Seacrest Petroleo Bermuda Limited: Bondholder adoption of proposed amendment

In the Written Resolution of holders of the Company's 16.00% senior unsecured USD 120,000,000 bonds 2024/2027 (the "Bonds") dated 19 August 2024 and the Second Resolution adopted 19 September 2024, the Company agreed to certain requirements for the issuance of the Company’s convertible bonds, including that proceeds of the initial issuance were expected to be received by the Company on 18 September 2024. However, proceeds of the initial issuance were received by the Company on 19 September 2024.

Accordingly, the Company on 19 September 2024 proposed a further amendment to the Bond Terms for the Bonds to reflect this updated timeline. As set out in the attached notice from Nordic Trustee AS, the trustee for the Bondholders (the "Bond Trustee"), Bondholders have today adopted the proposed amendment according to the voting requirements of the Bond Terms and the Bond Trustee is authorised to take the necessary actions to implement the amendment.

For further information, please contact:
Torgeir Dagsleth, CFO
Seacrest Petroleo Bermuda Limited
Tel. +47 958 91 970
E-mail: [email protected]

John de los Santos, Head of Investor Relations
Seacrest Petroleo Bermuda Limited
Tel. +44 79 4971 4756
E-mail: [email protected]

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act and the Euronext Rule Book part II.

About Seacrest Petroleo

Seacrest Petroleo is an independent oil and gas production company with an integrated portfolio of onshore producing oil fields and export infrastructure onshore in Espírito Santo, Brazil. The fields have estimated oil and gas in place volumes of 1.2 billion barrels of oil equivalents and certified 2P reserves of 144 million barrels of oil equivalents. The Company has exclusive control over its infrastructure, continuously from field production to offshore tanker loading terminal, allowing for cost-effective operations, and enabling direct access to markets for its premium grade products. The Company has offices in Bermuda, Norway and Brazil.

Notice to reader

This press release and the accompanying summons do not constitute an offer of securities for sale in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration. There will be no public offering of any of the securities mentioned in this press release or the accompanying summons in the United States.

Important information

Matters discussed in this press release and the accompanying summons may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate", "believes", "continue", "estimate", "expect", "intends", "may", "should", "will" and similar expressions. The forward-looking statements in this release and the accompanying summons are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this release and the accompanying summons speak only as at the date of this release and are subject to change without notice.