SeaBird Exploration: new 2D survey award - Africa region

19 September 2019, Limassol, Cyprus

SeaBird Exploration is pleased to announce that the company has signed a contract to acquire a 2D seismic survey for an international oil & gas company in the Africa region. The survey is due to commence towards the end of September and is estimated to run for approximately three weeks. The company will be using the Nordic Explorer for the work.

The 2D survey in the Africa region fits well with the previously reported 10,000 km 2D contract in Australasia region securing back-to-back utilization of the Nordic Explorer in Q4 2019 and for most of Q1 2020.

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. 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:

Hans Petter Klohs
CEO SeaBird Exploration
Phone: +47 22402705

or

Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717

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