SeaBird Exploration Plc: Listing of warrants

18 May 2015, Limassol, Cyprus

Reference is made to the previous press releases regarding the restructuring (the "Restructuring") of SeaBird Exploration Plc (the "Company").

The Company announces that 884,687,500 warrants issued to subscribers for shares in the Restructuring, each convertible into one ordinary share of the Company, is expected to be distributed to the VPS accounts of the entitled warrant holders today. The warrants will be listed on Oslo Børs with ticker SBX J from tomorrow, 19 May 2015. The warrants expire on 15 January 2018, with last day of listing 10 January 2018. Each warrant can be used to subscribe, within their expiration, for one share of the Company at an exercise price of NOK 0.10. The value of the warrants lies in the positive difference, if any, between the market price of the share price of the shares and the exercise price of the warrants, or in such expected future difference. The warrants have no value if exercised at a time when the market price of the shares are lower than the exercise price of the warrants, as shares could then be acquired at a lower price in the market. If not exercised until their expiration, the warrants will lapse with no value. Pursuant to the terms of the warrants, the Company shall issue the relevant shares within three months of receipt of applicable exercise notice. The warrants are described in section 5.3 of the Company's prospectus of 30 April 2015, available on www.sbexp.com. 

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: [phone]

Nils Haugestad
CFO SeaBird Exploration
Phone: [phone]

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: SeaBird Exploration Plc via Globenewswire

HUG#1922017