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19 December, 2013, Limassol, Cyprus:

The Board of Directors of SeaBird Exploration Plc
("SeaBird" or the "Company") is considering to raise
new equity of approximately USD 4 to 6 million by
issuing between 8,300,000 and 12,000,000 million new
shares through a private placement directed towards
existing shareholders and new investors (the "Private
Placement") at a share price of NOK 3.00.

ABG Sundal Collier Norge ASA (the "Manager") has
already received one order for USD 3 million from
Ordinat Shipping AS. John Olav Økland, who is one of
the owners of Ordinat Shipping AS, is a primary
insider and Board Member of SeaBird. Ordinat Shipping
AS is also the owner of the vessels Geo Pacific and
Munin Explorer which are leased by SeaBird.
Furthermore, Board Member Kjell Hjalmar Mathiassen
has subscribed for NOK 1.0 million and Henrik A.
Christensen, the Chairman of the Board has through
his wholly owned company, August AS, order shares for
NOK 1.0 million.

The proceeds from the Private Placement will be used
to strengthen the Company's balance sheet and
liquidity position. For Q4 2013, SeaBird estimates
based on preliminary analysis that it will report
revenues in the range of USD 30 to 35 million and
EBITDA in the range of USD -2 to 1 million. On 4
December 2013, the Board of Directors approved the
budget for 2014, a summary of which is attached
hereto. The budget has not been updated with
subsequent events.

The minimum subscription amount in the private
placement will be NOK 1,000,000. The subscription
price is NOK 3.00 per share. Completion of the
private placement is subject to Board of Directors
proposing a resolution to increase the capital.

ABG Sundal Collier Norge ASA has been engaged as sole
manager for the Private Placement.

The application period will start on 19 December 2013
at 16:30 CET and be open until 08:00 CET on 20
December 2013. However, the Company, together with
the Manager, reserve the right to close or extend the
application period at any time.

The Manager has entered into a share lending
agreement with existing shareholders, and the private
placement will be settled with borrowed shares that
will be tradable immediately upon allocation.

Subject to successful completion of the Private
Placement, the Board of Directors of SeaBird will
evaluate a subsequent offering, which may require
shareholder approval at an extraordinary general
meeting, of 3,000,000 shares at the same price as in
the Private Placement. This offering would be
directed towards the Company's shareholders as of 19
December 2013 (as documented by the shareholder
register in the VPS on 27 December 2013) i) not being
offered or invited to participate in the Private
Placement or ii) holding less than 1,500,000 shares
as of 19 December 2013 and not participating in the
Private Placement.

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, tel. +47 908 83 737
Nils C Haugestad, tel. +971 4 427 1700

          * * *

Important notice:

This announcement is not an offer for sale of
securities in the United States or any other country
in which such offer would be unlawful or would
require prospectus, registration or other measures.
The securities referred to herein have not been
registered under the U.S. Securities Act of 1933, as
amended (the "U.S. Securities Act"), and may not be
sold in the United States absent registration or
pursuant to an exemption from registration under the
U.S. Securities Act. SeaBird does not intend to
register any portion of the offering of the
securities in the United States or to conduct a
public offering of the securities in the United
States. Copies of this announcement are not being
made and may not be distributed or sent into the
United States, Canada, Australia, Hong Kong, Japan or
any other jurisdiction in which such distribution
would be unlawful or would require registration or
other measures.

In any EEA Member State that has implemented
Directive 2003/71/EC (together with any applicable
implementing measures in any member State,
the "Prospectus Directive"), this communication is
only addressed to and is only directed at qualified
investors in that Member State within the meaning of
the Prospectus Directive.

This announcement is only directed at (a) persons who
are outside the United Kingdom; or (b) investment
professionals within the meaning of Article 19(5) of
the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the "Order"); or
(c) persons falling within Article 49(2)(a) to (d)
("high net worth companies, unincorporated
associations, etc.") of the Order; or (D) persons to
whom any invitation or inducement to engage in
investment activity can be communicated in
circumstances where Section 21(1) of the Financial
Services and Markets Act 2000 does not apply.

Certain statements included within this announcement
contain forward-looking information, including,
without limitation, those relating to (a) forecasts,
projections and estimates, (b) statements of
management's plans, objectives and strategies for
SeaBird, such as planned expansions, investments or
other projects, (c) costs, capacities or rates, start-
up costs, cost reductions and profit objectives, (d)
various expectations about future developments in
SeaBird's markets, particularly prices, supply and
demand and competition, (e) results of operations,
(f) margins, (g) growth rates, (h) risk management,
as well as (i) statements preceded
by "expected", "scheduled", "targeted", "planned", "pr
oposed", "intended" or similar statements. Although
we believe that the expectations reflected in such
forward-looking statements are reasonable, these
forward-looking statements are based on a number of
assumptions and forecasts that, by their nature,
involve risk and uncertainty.

Various factors could cause our actual results to
differ materially from those projected in a forward-
looking statement or affect the extent to which a
particular projection is realized.

No assurance can be given that such expectations will
prove to have been correct. SeaBird disclaims any
obligation to update or revise any forward- looking
statements, whether as a result of new information,
future events or otherwise.

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