SBX - Bond holders meeting approved proposal

March 12, 2009.  Cyprus/British Virgin Islands/Dubai: 

Reference is made to the summons to bond holder meeting of 3 March 2009 and stock
exchange release related to private placement of 3 March 2009. The bond holder meeting
today approved the proposal with 97.73 % of the votes.

Please find note from Norsk Tillitsmann ASA to bond holders attached.

For further queries contact:

Tim Isden

CEO SeaBird Exploration

Phone: +971 504 539075

Geir Olsen

CFO SeaBird Exploration

Phone: +47 916 39367

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SeaBird Exploration Limited `SeaBird` is a global provider of marine 2D and 3D seismic data,
solutions for seabed acquisition of 4C/4D multimode seismic, 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 water 2D/3D market.
Main focus for the company is proprietary seismic surveys (contract seismic). 

SeaBird does not have a multi-client data library. 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. 

All statements in this press release other than statements of historical fact are forward-looking
statements and are subject to a number of risks, uncertainties and assumptions that are difficult
to predict, and are based upon assumptions as to future events that may not prove accurate.
These factors include SeaBird`s reliance on a cyclical industry and the utilization of the
company's vessels. Actual results may differ substantially from those expected or projected in the
forward-looking statements.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian 

Securities Trading Act)