Contract Update – Eagle Explorer and Covid-19

CONTRACT UPDATE – EAGLE EXPLORER AND COVID-19

Further to the notice of 27 January 2020, SeaBird Exploration Plc has been notified that the end-client has cancelled the two OBN surveys off West Africa due to the COVID-19 situation.  The Eagle Explorer has mobilized and is ready for work, and the Company expects to be made whole on the contract.

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 Quality, Health,

Safety and Environment (QHSE), 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 pursuant to section 5-12 of the Norwegian

Securities Trading Act.

For further queries contact:

Gunnar Jansen

CEO SeaBird Exploration

Phone: +47 9411 9191