SeaBird Exploration - 2D seismic contract

Cyprus, 10 February 2012

SeaBird Exploration PLC ('SeaBird' or 'SBX') has received a Letter of Award for a major contract of 2D seismic work for the entire summer season from a major client. The contract represents a value in the range of US$ 11-13 million. The work will commence during mid-March 2012, and will be carried out using the 2D vessel OSPREY EXPLORER. The vessel will tow a 12 km long seismic streamer during this project.

For further queries contact:

Jan-Eivind Fondal

CEO SeaBird Exploration

Phone: +47 46886200 

SeaBird Exploration PLC is a global provider of marine acquisition for 2D and 3D seismic data, and associated products and services to the oil and gas industry. SeaBird specialises 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 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.