Marine Log

December 6, 2006

Newbuild AHTS to be converted

SeaBird Exploration Ltd. (BVI) has purchased the newbuilding AHTS Tasneem 2 from Malaysia-based Syarikat Borcos Shipping Sdn Bhd.

Tasneem 2 is a newbuilding anchor handling tug supply vessel, but will be converted into a shallow water 2-D/3-D seismic vessel.

The vessel will be renamed Raven Explorer. SeaBird expects the vessel to be operational for seismic work by the third quarter of 2007, after conversion and lengthening.

The vessel was built at PSC Naval Dockyard in Malaysia and delivered during the thirdrd quarter of 2006.

Original dimensions, prior to lengthening, are 196.8 ft LOA x 52.48 ft beam x 18.04 ft depth with a loaded draft of 15.91 ft.

The vessel is classed by Lloyds Register of Shipping, LRS +OU Offshore Support FiFi 1 +LMC. It is powered by twin CAT 3606 main engines developing a total of 5444BHP at 1000 RPM and 60mt bollard pull through twin controllable pitch propellers.

The vessel was handed over in Southeast Asia where she will undergo conversion prior to deployment as a seismic vessel.

Marcon International, Inc. of Coupeville, Washington represented the buyers in this transaction. This is the 70th vessel or barge Marcon has sold or chartered to-date in 2006 and several additional sales are pending and expected to conclude by year's end making this a record year for the company in sales.