Contract whiffs launch Seabird

Seismic services provider SeaBird Exporation (OSE: SBX) was halted today after a rise of nearly 50%. It had told over the weekend on its website about an LOA for a seismic 2D contract worth 11-13 million USD. By the time the company announced it has entered into various other contracts totalling nearly 10 million USD, the stock had already climbed almost 100%. It is now 75% above Friday close. The company recently announced a new CEO in Dag Reynolds as Tim Isden stepped down on February 6th.