SeaBird Exploration Plc: Letter of Award in Mediterranean Sea

SeaBird Exploration Plc ("SeaBird") is pleased to announce that the company has received a Letter of Award (LOA) to acquire up to 6,000 km of 2D seismic data in the Mediterranean area from an unannounced client. The LOA is conditional upon permits and is estimated to commence H2 2015.

The survey will cover a minimum of 6,000 km and will have an estimated value of USD6.0 million.

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.

With reference to the announcement on 1 October 2014 on the company's refinance efforts; pending further clarification, SeaBird has requested that Oslo Børs maintains suspension of its shares and SBX03 bonds.

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: +47 90883737