May 29, 2019 / 06:00AM GMT
Hans Petter Amundsen Klohs - SeaBird Exploration Plc - CEO
Good morning, everyone, and welcome to this presentation of SeaBird's first quarter results. I'm Hans Petter Klohs, I'm the CEO of SeaBird Exploration. Together with me presenting is our CFO, Nils Haugestad.
As you can see from Slide 3, this presentation, we will start with taking you through an update of the fleet renewal process, which with the recent acquisition of the BOA vessel, is completed; the highlights of the first quarter; and market and operational review; a financial review; before we wrap up with a summary and Q&A session.
Turning to Page 5. You will see that SeaBird's fleet renewal started with the successful acquisition of Eagle Explorer in 2018. The Eagle is, with the current backlog, expected to generate more than about 30% return on investment in the first year in operation. Following this investment and to respond to the continued strong growth in demand for source vessels, we announced the acquisition of the 2 BOA EM vessels, Galatea and Thalassa, in April 2019. These 2 high-end vessels, to be renamed
Q1 2019 SeaBird Exploration PLC Earnings Call Transcript
May 29, 2019
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