SBX Seabright Holdings, Inc.

9 December 2015, Nicosia, Cyprus:

Pursuant to the authority of the Board of Directors of SeaBird Exploration Plc ("SeaBird") to acquire treasury shares, the company purchased 2,500,000 VPS shares of SeaBird stock on 8 December 2015. The transaction was executed at a price of NOK 0.03 per share. Subsequent to the transaction, the aggregate number of own VPS shares held by SeaBird is 2,500,000. The sole purpose of the acquisition is to facilitate the share consolidation process, and reference in this respect is made to the announcement from SeaBird on 26 November 2015. The company will, following the consolidation, dispose of any treasury shares not needed for the purpose of the consolidation.

SeaBird is a global provider of marine acquisition for 2D/3D and 4D seismic data, and associated products and services to the oil and gas industry. SeaBird specializes 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 and 4D 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.

For further queries contact:

Dag Reynolds
CEO SeaBird Exploration
Phone: +47 90883737

or

Nils Haugestad
CFO SeaBird Exploration
Phone: +47 22402717

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