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20 December 2013, Limassol, Cyprus

SeaBird Exploration Plc ("SeaBird" or the "Company")
is pleased to announce the successful completion of a
private placement of 12,000,000 new shares
(the "Private Placement") directed towards Norwegian
and international institutional investors after the
close of the Oslo Stock Exchange on 19 December 2013.
The over-subscribed placement was made at a
subscription price of NOK 3.00 per share. Total gross
proceeds from the Private Placement are NOK 36.0
million and will be used to strengthen the Company's
balance sheet and liquidity position.  

Following the registration of the new shares, the
Company will have 57,581,246 shares outstanding. The
Company 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. Payment and delivery of
allocated new shares to the investors is expected to
be on or about 30 December 2013.

The Board of Directors of SeaBird has decided to
carry out a subsequent offering of 3,000,000 shares
at NOK 3.00 per share as in the Private Placement,
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. The subscription rights will not
be tradable.

The shares will trade excluding the right to
participate in the subsequent offering from 20
December 2013.

ABG Sundal Collier Norge ASA acted as manager for 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.