SeaBird Exploration Plc: Sale of own shares

22. December 2015, Nicosia, Cyprus:

As announced on 9 December 2015, SeaBird Exploration Plc ("SeaBird") purchased 2,500,000 own shares in order to facilitate the consolidation of shares which was carried out on 11 December 2015. After the 1000:1 consolidation this amounted to 2500 shares. A total of 890 shares of these shares were used to round up shareholders who subsequent to the consolidation otherwise would have owned fractions of a shares. SeaBird has therefore today sold the remaining 1610 own shares at an average price of NOK 14.5064 per share. Subsequent to the transaction, the aggregate number of own shares held by SeaBird is 0.

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 Health, Safety, Security, Environment and Quality (HSSEQ), combined with efficient collection of high quality seismic data. All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company's vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.

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]

or

Nils Haugestad
CFO SeaBird Exploration
Phone: [phone]

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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

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