SBX: SeaBird Exploration Plc - notification of ownership by Perestroika AS

In connection with the financial restructuring of 
SeaBird Exploration Plc ("SBX"), Perestroika AS has 
been received preference shares in SBX which, on 
the basis of conversion into ordinary shares of 
SBX, will give an aggregate holding of 492,221,500 
shares, corresponding to 16.06% of the issued share 
capital (calculated on the basis of 3,065,427,767 
shares fully converted).

Further, Perestroika AS will receive, as part of 
same financial restructuring, warrants that will 
give entitlement to subscription of an additional 
190,000,000 ordinary shares of SBX, which will give 
Perestroika AS rights over a total of 682,221,500 
shares, corresponding to 17.27% of the fully 
diluted number of shares (calculated on the basis 
of 3,950,115,246 shares fully converted and fully 
diluted).