British Virgin Islands/Dubai, 29 June 2006: Reference is given to previous stock exchange notices regarding SeaBird Exploration Limited`s (BVI) (?SeaBird` or ?SBX`) intention to submit a voluntary offer to purchase all the outstanding shares of Global Geo Services ASA (?GGS`). Reference is also given to notice of 26 June 2006 where it was informed that SeaBird, after its initial review of the annual accounts, was of the opinion that it would need further information, in particular regarding the financing of GGS, and furthermore performing detailed due diligence investigations of GGS in relation to the contemplated offer.
SeaBird therefore sent a formal request to GGS on 25 June 2006 to be allowed to perform a detailed due diligence review during the contemplated offer period. Today, SeaBird has been informed by the Board of GGS that they have rejected that request.
As a result, SeaBird will not be in a position to launch a voluntary offer as previously indicated.
For further queries contact:
CEO SeaBird Exploration Limited
Phone: +47 90883737
Chairman SeaBird Exploration Limited
Phone: +97150 453 9075