SBX: Disclosure of shareholdings

Reference is made to the press release dated 29 
January 2015 regarding the restructuring and the 
completion of the restructuring announced on 3 
March 2015 (the "Restructuring") of SeaBird 
Exploration PLC (the "Company"). 

Ordinat Shipping AS holds 11,485,123 ordinary 
shares and was allocated 243,229 preference shares 
in the Restructuring. Each preference share 
represents 500 times the rights of ordinary shares, 
hence Ordinat Shipping AS holds in total 
133,099,623 voting rights equivalent to 4.34% of 
the voting rights in SeaBird. Consequently, the 
ownership is now below 5%. 

In addition Ordinat Shipping AS holds 152,000 
warrants which will be convertible into 76,000,000 
ordinary shares representing 1.9% of the fully 
diluted number of voting rights assuming conversion 
of all outstanding warrants.