SeaBird Exploration Plc: Registration of SeaBird Exploration Plc preference shares

4 March 2015, Limassol, Cyprus

SeaBird Exploration Plc Preference Shares are registered on the NOTC-list as of 4 March 2015 with ticker code "SBXP". The company has issued 6,015,693 preference shares each with a par value USD 0.1/share, all of which are registered in the VPS with ISIN code CY 0105552125. As at the issue closing date of 3 February 2015, the market capitalization of the preference shares is NOK 300,784,650, equivalent to NOK 50/share. The preference shares carry 500 times the rights of the common shares listed on Oslo Stock Exchange under the ticker "SBX".

The preference shares will be mandatorily converted into common shares following the reduction of the Company's authorized and issued share capital, through the reduction of the nominal value of its shares from USD 0.1/share to USD 0.0001/share (the "Reduction") and issue by the Registrar of Companies in Cyprus of the relevant certificate confirming the Reduction, estimated to be during Q2 2015. The preference shares will be converted at an exchange rate of 500:1 common shares for each preference share; hence a total of 3,007,846,500 shares will be issued to preferred shareholders following the Reduction. Post conversion of the preference shares, the total outstanding number of common shares in the company will be 3,065,427,746. There will be no preference shares outstanding in the company following the conversion described above. The issue of preference shares is part of the restructuring of SeaBird Exploration Plc which is listed on Oslo Stock Exchange. The company has entered into an agreement whereby it will be able to use the NOTC reporting system as from 4 March 2015.