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5 March 2015, Limassol, Cyprus

Reference is made to press release dated 11 February 2015, regarding the calling of an Extraordinary General Meeting ("EGM2") for the reduction of capital and simultaneous increase of authorized share capital back to the former amount, and exclusion of pre-emption rights in relation to new shares.

EGM2 is now completed. All proposals on the agenda were adopted with requisite majority.

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.

 
This information is subject of the disclosure requirements acc. to ยง5-12 vphl (Norwegian Securities Trading Act)
 
For further queries contact:
 
Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737
 
Nils Haugestad
CFO SeaBird Exploration
Phone: +971 4 427 1700