Seismic explorer SeaBird Exploration has signed an addendum to the charter party relating to M/V Hawk Explorer to further extend the lease on current payment terms.
According to the seismic explorer, the lease will be extended from May 31, 2016 to February 28, 2017.
At the end of the lease, SeaBird will have the option to purchase the vessel and related equipment for $1.75 million.
Alternatively, the company may at its discretion extend the lease for a firm period up to and including 30 November 2017, at which point it will have the option to purchase the vessel and related equipment for $67,800.
During the initial lease period, SeaBird may at its sole discretion terminate the charter on August 31, 2016 or November 30, 2016.
The Hawk Explorer is a 66.0m long 2D vessel built in 1984 and rebuilt in 2006 in Gdynia Poland, after which the vessel joined SeaBird.