Green Energy Group (SeaBird Exploration Plc) - Sale of the “Petrel Explorer”

(Limassol, 18 July 2022) Reference is made to the 13 January 2022 press release regarding a potential sale of the Petrel Explorer. Green Energy Group (SBX Plc, the Company) today announces that it has entered into a binding agreement to sell the vessel to an undisclosed buyer for an undisclosed sum. The sale is expected to be completed in about four weeks and will see the vessel leave the offshore industry.

“The sale of the non-strategic Petrel Explorer further strengthens the Company`s balance sheet and liquidity, enabling us to deliver on our asset-light strategy while aiming to consolidate the seismic markets we are involved in”, comments Ståle Rodahl, Executive Chairman of Green Energy Group.

Contacts: Ståle Rodahl, Executive Chairman, ph:+47 4840 0593