Go to content

3 February 2014, Limassol, Cyprus

Reference is made to the stock exchange notices dated 19 December 2013 and 20 December 2013 published by SeaBird Exploration Plc (the "Company") regarding the private placement of 12,000,000 new shares (the "Private Placement") and a contemplated subsequent offering of 3,000,000 shares at NOK 3.0 per share (the "Subsequent Offering"). The Financial Supervisory Authority of Norway has on 3 February 2014 approved a prospectus (the "Prospectus") concerning listing on Oslo Børs of the shares issued in the Private Placement.

Due to the current trading levels of the shares in the Company, the Board of Directors has decided to cancel the Subsequent Offering. Consequently, the Prospectus serves as a listing prospectus only and no shares or other securities are being offered or sold in any jurisdiction pursuant to the Prospectus.

The Prospectus is available on the Company's web site www.sbexp.com.

The 12,000,000 new shares issued in the Private Placement have been registered on a separate ISIN (being ISIN CY0104332115) pending approval of the Prospectus will assume the Company's ordinary ISIN and be listed and tradable on Oslo Børs from and including 4 February 2014.

SeaBird is a global provider of marine acquisition for 2D/3D and 4D 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 and 4D 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.

For further information please contact:

Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737

Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.