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Cyprus, 25 November 2011

Reference is made to the announcement on 18 November 2011 regarding agreement for financial restructuring and industrial partnership. SeaBird Exploration PLC has called for a joint bondholders' meeting to propose certain amendments to the loan agreements of SBX01 RET (ISIN 001 032604.4) and SBX02 RET (ISIN 001 035391.5), collectively the "Bond Loans". Please see attached summons. Bondholders representing more than 2/3 of the votes in the Bond Loans have committed to support and vote in favour of the proposal.

The bondholders' meeting will be held on 5 December 2011 at 13:00 (CET). The meeting will be held in the premises of Norsk Tillitsmann ASA (the loan trustee for the bond loan).

For further information, please contact:

Tim Isden
CEO SeaBird Exploration
Phone: +971 504 539075

SeaBird Exploration PLC "SeaBird" is a global provider of marine solutions for seabed acquisition of 3D/4C/4D multimode seismic data with OBN operations, marine 2D and 3D 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 water 2D/3D 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.

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 pursuant to section 5-12 of the Norwegian Securities Trading Act.