SeaBird Exploration Plc: cancellation of subsequent offering

13 June 2019, Limassol, Cyprus

Reference is made to previous stock exchange notices of 11 April 2019, 12 April 2019 and 29 May 2019 regarding the completion of a private placement (the "Private Placement"), and a contemplated subsequent offering (the "Subsequent Offering") of up to 25,000,000 shares directed towards the shareholders of SeaBird Exploration PLC (the "Company") as of 11 April 2019 who were not allocated shares in the Private Placement.

The Company has today decided not to initiate the Subsequent Offering. The reason is that the Company's shares are trading below the offer price in the subsequent offering, and this has been the case for a significant period of time since the announcement of the Subsequent Offering, with sufficient trading volume. Shareholders wishing to neutralize the dilution effects of the Private Placement have therefore over a lengthy period had, and continue to have, the opportunity to purchase shares in the open market at prices below the offer price of the contemplated Subsequent Offering.

For further information, please contact:
Hans Petter Klohs
CEO SeaBird Exploration
Phone: +47 22 40 27 18   

Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22 40 27 17