SeaBird Exploration plc

08/15/2024 | Press release | Distributed by Public on 08/15/2024 00:25

Seabird Exploration Plc: Second-Quarter Results 2024

Seabird Exploration Plc: Second-Quarter Results 2024

Published August 15, 2024 - 10:24 AM

15.8.2024 08:00:01 CEST | Seabird Exploration Plc | Half yearly financial reports and audit reports / limited reviews

Nicosia, Cyprus - 15 August 2024 - Seabird Exploration Plc ("the Company") today announces its results for the second quarter and half-year period ending 30 June 2024.

Q2 HIGHLIGHTS AND SUBSEQUENT EVENTS:
• Revenues of USD 4.6m
• EBITDA of USD 1.5m
• Net interest-bearing debt was USD 12.9 million
• Utilisation rate of 89%
• Awarded 12-month OBN contract
• Continued strong market outlook
• Cash distribution of NOK 0.25 per share proposed by BoD

The Board of Directors has today proposed a second cash distribution of NOK 0.25 per share to shareholders, with payment expected in Q4 2024. A Notice of Extraordinary General Meeting (EGM) to approve this proposal will be issued shortly.

Please find the full report and presentation attached.

AUDIOCAST INFORMATION:
Date: 15 August 2024
Time: 10:00 CEST
Link: https://msteams.link/AD1Y

A Q&A session will follow the presentation. Written questions can be submitted through the audiocast platform. A recorded version will be available on the Company's website shortly after the presentation.

Disclosure regulation
This information is subject to the disclosure requirements in article 19 of the Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading Act.

Contacts
Finn Atle Hamre
CEO
Seabird Exploration Plc
Tel: +47 958 35 991
[email protected]

Sveinung Alvestad
CFO
Seabird Exploration Plc
Tel: +47 952 90 460
[email protected]

Attachments
2024 Q2 Seabird Exploration _ presentation
2024 Q2 Seabird Exploration _ report
Download announcement as PDF

About Seabird Exploration Plc
Seabird Exploration Plc and its subsidiaries ("SBX" or "the Company") is a global provider of marine 2D seismic acquisition and source vessel services to the Oil & Gas industry. SBX strive to maximize shareholder value through relentless focus on Quality, Health, Safety and Environment (QHSE), innovation and technical excellence in the efficient collection of high-quality seismic data and dedication to delivering the highest possible client satisfaction. The fleet consist of two vessels that are upgraded and outfitted with state-of-the-art equipment, in addition the Company has available equipment to outfit additional third party vessels. The Company is registered in Cyprus, with branch office in Bergen (Norway). The SBX share is listed on the Oslo Børs (ticker: SBX). For more information, please visit https://www.sbexp.com/.