SeaBird Exploration Plc: LOI for the «Fulmar Explorer»

08 August 2021, Limassol, Cyprus

SeaBird Exploration is pleased to announce a LOI for a source vessel contract in the Western Hemisphere with a leading operator. The operator has specifically requested the «Fulmar Explorer» for the work programme. The contract is expected to start in Q4 2021 and has an expected duration of about 4 months. To this end, SeaBird Exploration delivers on its main growth targets for 2021; outfitting Fulmar Explorer against contracted work and winning contracts for the Geo Barents (later changed to Veritas Viking) for OBN work. With a steadily increasing number of tenders against a backdrop of strong oil prices, the Company sees a continued positive market outlook for OBN and 2D work and intends to continue improving its position in these segments.

For further queries contact:

Gunnar Jansen
CEO
Mob: +47 941 19 191

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.