SBX: Disclosure of significant shareholding in SeaBird Exploration Plc

Reference is made to the stock exchange releases by SeaBird Exploration Plc
(“SeaBird” or the “Company”) published on 12 April 2019 at 6:38 CET regarding a
private placement of new shares (the “Offer Shares”) in the Company (the
“Private Placement”) and 24 May 2019 at 15:52 CET regarding signing of
agreements to acquire vessels mentioned and Private Placement becomes
unconditional. 
Prior to completion of the Private Placement, Grunnfjellet AS owns 15,520,500
shares in the Company, equivalent to a shareholding of approx. 5.46% of the
shares and votes in the Company. 
Grunnfjellet AS has been allocated 5,000,000 Offer Shares in the Private
Placement, which is less than its pro rata portion of the Offer Shares. 
Following completion of the Private Placement, Grunnfjellet AS will own
20,520,500 shares in the Company, equivalent to a shareholding of approx. 4.16%
of the shares and votes in the Company.