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Cyprus, 16 December 2011

Reference is made to the stock exchange notices dated 18 November and 24 November 2011 regarding SeaBird Exploration PLC's sale of the OBN business to Fugro Norway AS.

Please find attached the Information Memorandum regarding the sale, prepared in accordance with Section 3.5 of the Continuing Obligations of stock exchange listed companies.

For further information, please contact:
 
Tim Isden
 
CEO SeaBird Exploration
 
Phone: +971 504 539075

SeaBird Exploration PLC "SeaBird" is a global provider of marine acquisition for 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/deep 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.