SeaBird Exploration PLC (LTS:0MO8)
kr 5.82 0 (0%) Market Cap: 461.93 Mil Enterprise Value: 583.46 Mil PE Ratio: 0 PB Ratio: 1.49 GF Score: 55/100
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Q2 2019 SeaBird Exploration PLC Earnings Call Transcript

Aug 15, 2019 / 06:00AM GMT
Release Date Price: kr14.94
Hans Petter Amundsen Klohs
SeaBird Exploration Plc - CEO

Good morning, everyone, and welcome to this presentation of SeaBird's second quarter results. I'm Hans Petter Klohs, CEO of Seabed Exploration. And together with me presenting is CFO, Nils Haugestad.

Turning to Slide 3, the agenda. In this presentation, we will take you through the highlights of the second quarter, our market and operational review, our financial review, before we wrap up with a summary, outlook and Q&A session.

Please turn to Page 5. In the second quarter, SeaBird achieved 68% vessel utilization. Revenues came in at USD 9.2 million, while EBITDA was negative USD 1.7 million. This includes the loss provision for Q3 relating to the ongoing Nordic Explorer contract of USD 1.3 million.

In the quarter, we completed the acquisition of the BOA Galatea, while the BOA Thalassa was acquired in July. To finance the acquisition, the company completed the NOK 250 million private placement and NOK 28 million share issued to bondholders as part settlement of BOA Thalassa acquisition.

The quarter

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