SBX : Contemplated Private Placement Attachments SBX_Presentation 19 Dec 2013 Final 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.