Green Energy Group (Seabird Exploration Plc) - Q1 2022 report and update

Green Energy Group (Seabird Exploration Plc) - Q1 2022 report and update

20 May 2022 08:00 CEST

Green Energy Group (Seabird Exploration Plc) is pleased to announce its first
quarter 2022 report.

Headlines Q1 2022

* NAV reported at NOK 7.23/share end of Q1. The share price ended the quarter
at NOK 3.50
* Revenues of $5.0 million, up from $3.7 million in Q1 2021
* EBITDA of $0.2 million up from negative $0.5 million in Q1 2021
* "Eagle Explorer" completed 2D contract with strong production and
outstanding operational and technical performance
* Awarded a 90 days OBN source contract
* Awarded an OBN source contract that later got cancelled following the
Ukraine invasion
* Cancellation of a 3rd party OBN source contract
* Completed first marine minerals research cruise
* Initiated a key mineralogy project
* Continued strong market outlook in both key battery metals and seismic
services

Subsequent:

* Signed LOI regarding potential sale of the seismic operation
* Completed subsequent offering of 3,500,000 shares

The company will host a webcast at 10:00 CEST today. Please use the following
link to join the webcast:

https://teams.microsoft.com/l/meetup-
join/19%3ameeting_NTA0OThlN2EtZWYzYi00YmI4LTlhODMtZjM0NTNhMzY2YWRl%40thread.v2/0
?context=%7b%22Tid%22%3a%2265f51067-
7d65-4aa9-b996-4cc43a0d7111%22%2c%22Oid%22%3a%22473e7d3b-5f4f-4129-845f-
e97d4b42a85e%22%2c%22IsBroadcastMeeting%22%3atrue%7d&btype=a&role=a

For further queries contact:

Erik von Krogh
CFO
Mob: +47 930 38 075

More information:
Access the news on Oslo Bors NewsWeb site

562815_Q1 2022 Report.pdf
562815_Q1 2022 Presentation.pdf

Source

SeaBird Exploration PLC

Provider

Oslo Børs Newspoint