SeaBird Exploration: completion of Subsequent Offering, new shares issued

Oslo 27 December 2017

Reference is made to the stock exchange announcements dated 19 December 2017 and 20 December 2017 regarding the result of the subsequent offering by SeaBird Exploration PLC ("SeaBird" or the "Company") of up to 50,000,000 new Class A shares (the "Offer Shares") at a subscription price of NOK 0.10 per share (the "Subsequent Offering").

The share capital increase pertaining to the Subsequent Offering has now been registered in the Cyprus Company Register. The number of ordinary shares in the Company is 57,455,145 each with a nominal value of USD 0.1. Additionally, the Company has 1,050,000,000 Class A shares each with a nominal value of USD 0.001.

The Offer Shares are not listed and tradeable shares. The Offer Shares will be converted to ordinary shares, transferred to the ordinary ISIN of the Company's shares and become tradeable on Oslo Børs under the trading symbol "SBX" upon a capital reduction relating to the reduction of the nominal value of the Company's ordinary shares from USD 0.1 to USD 0.001 having been completed by resolution of a competent court in Cyprus, expexted in January 2018.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

ABG Sundal Collier and Arctic Securities acted as joint bookrunners in the Subsequent Offering. Advokatfirmaet Schjødt AS acted as Norwegian legal counsel to the Company.
ENDS For additional information, please contact: Christophe Debouvry CEO SeaBird Exploration Phone: +47 22402705 Nils Haugestad CFO SeaBird Exploration Phone: +47 22402717 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.
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Source: SeaBird Exploration Plc via Globenewswire