Seismic Contract Signed

3 February 2014

Soma Oil & Gas Exploration Limited
(Soma Oil & Gas or the Company)

Seismic Contract Signed

Soma Oil & Gas announces that it has signed a contract with Seabird Exploration, a global provider of marine acquisition for 2D and 3D seismic data for the oil and gas industry.

Under the terms of the agreement, Seabird will acquire up to 20,000 km of 2D seismic data off the coast of Somalia for Soma Oil & Gas. It is expected that the survey will commence in mid-February and take approximately 90-100 days. Two survey vessels, the Northern Explorer and Hawk Explorer, will be used to acquire the data.

The Company is also in the process of collating and reprocessing historic seismic data using modern techniques, and will prepare an evaluation of Somalias petroleum potential. Soma Oil & Gas will create a data room for the Federal Government of Somalia, into which all available data will be placed, including the newly acquired data from the Seabird seismic survey.

Robert Sheppard, CEO of Soma Oil & Gas, said:

The signing of the seismic contract is a significant step forward for both Soma Oil and Gas and the oil and gas sector in Somalia. Somalia remains a significantly under-explored region despite large recent discoveries elsewhere in East Africa and we are working to assist the Government in accelerating the development of its oil and gas potential.

 

www.somaoilandgas.com

For further information:

FTI Consulting +44 (0) 207 831 3113

Ben Brewerton, Oliver Winters, Sara Powell somaoilandgas.sc@fticonsulting.com

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About Seabird

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes in high quality operations within the high end of the source vessel and 2D market, as well as in the shallow/deep water 2D/3D and 4D market. Main focus for the company is proprietary seismic surveys (contract seismic). Main success criteria for the company are an unrelenting focus on Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data.

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