SeaBird Exploration Plc: Option exercise periods

SeaBird Exploration Plc ("SBX") refers to SBX announcements of 20 February 2012 and 13 August 2012 concerning employee options for CEO Dag Reynolds, CFO Nils Haugestad, VP Kjell Mangerøy, VP Babak Jabbari, Group Treasurer Sverre Garden Huru and General Counsel Alexander Holst. SeaBird hereby announces that it has today resolved to align the employee option exercise periods mentioned in the two releases. After the resolution, all employee options mentioned may be exercised with 1/3 of the options from 13 August 2013, 1/3 from 13 August 2014 and 1/3 from 13 August 2015. All options must have been exercised within 1 November 2015, or, if resolved by the Board of Directors, at the latest on the date of the first quarterly report of SBX after such date. All other terms for employee options remain unchanged.

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 pursuant to section 5-12 of the 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