SBX Acquires New Vessel

SeaBird Exploration Limited (SBX) has acquired M/V Sentinel. A DP (Dynamically Positioned) vessel, built in 1979. The vessel will be converted to a Source/Ocean Bottom Seismic ship. Total cost for the vessel, including upgrade and additional equipment, is expected to be up to $20 million. The vessel is expected to be in full operation from early 2007.