31 March, 2009. British Virgin Islands/Cyprus : SeaBird Exploration Limited ('SeaBird' or 'SBX') today announced that the 30,900,000 new shares following the private placement of new shares as notified Oslo Stock Exchange on 3 March 2009 were registered in the Company Register in British Virgin Islands on 27 March 2009 and have now been issued. Pending approval of the listing prospectus, the new shares are not listed or tradable on Oslo Børs but are registered in VPS with a separate ISIN-number. The new shares will be allocated to the Company's ordinary ISIN and be listed and tradable after approval of the prospectus. The new total number of shares has been increased with 30,900,000 from 89,395,000 to 120,295,000.
For further queries contact:
CEO SeaBird Exploration
Phone: + 971 504 539075
CFO SeaBird Exploration
Phone: + 47 920 51 455
SeaBird Exploration Limited (BVI) `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.