11 November, 2009.  Cyprus:

Reference is made to the stock exchange notice dated November 10,
2009 regarding a contemplated shares issue in Seabird Exploration
Limited ("SeaBird" or the "Company").

The book-building period for the Private Placement has been closed,
and SeaBird is pleased to announce a successful placement towards
institutional and private investors of 54 million new shares at a
price of NOK 3.50 per share. The share issue represents approx. 45%
of the shares outstanding prior to the placement. Total gross
proceeds from the share issue are NOK 189 million.

The private placement was managed by ABG Sundal Collier Norge ASA,
First Securities AS and Fearnley Fonds ASA.

Furthermore, the CEO, Mr. Tim Isden, has through his wholly owned
company; Bartica Company Limited sold 6.0 million shares as part of a
necessary personal deleverage process. Following this sale, Bartica
Company Limited owns 5.4 million shares, equal to 3.1 % of the
outstanding number of shares after the private placement. The
remaining shareholding of Mr. Tim Isden is subject to a 6 month
lock-up arrangement with the managers.

In order to secure a fast delivery of shares to the investors, the
shares offered in the private placement comprise of already existing
shares made available to the Managers by a stock lending agreements
with certain major shareholders.

The total number of outstanding shares after the issue will be
174,895,831 shares.


For further queries contact:

Tim Isden
CEO SeaBird Exploration
Phone: +971 504 539075

Kai Solberg-Hansen
CFO SeaBird Exploration
Phone: +47 920 51 455
- - -

SeaBird Exploration Limited (Cyprus) `SeaBird` is a global provider
of marine 2D and 3D seismic data, solutions for seabed acquisition of
4C/4D multimode seismic, 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 water 2D/3D market. Main focus for the company is
proprietary seismic surveys (contract seismic). SeaBird does not have
a multi-client data library. 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 acc. to §5-12 vphl (Norwegian
Securities Trading Act)  This announcement was originally distributed
by Hugin. The issuer is solely responsible for the content of this
announcement.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.