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SBX - Nils C. Haugestad appointed new CFO of SeaBird Exploration PLC

March 16, 2012 - London

Cyprus, 16 March 2012

SeaBird Exploration PLC ("SeaBird" or "SBX") is pleased to announce that Nils Haugestad has been appointed Chief Financial Officer of the company and will assume his responsibilities with SeaBird as of 1 April 2012. Mr. Haugestad has over 20 years experience in investment banking, principal investments and corporate strategy. He is joining the company from Fokus Capital Ltd. where he is a founding partner and Chief Executive Officer.Prior to this, Mr. Haugestad was Chief Operating Officer of Evolvence Capital Ltd. Mr. Haugestad has previously held a number of positions in New York with Citigroup, Citicorp Venture Capital, Credit Suisse, RBC Capital Markets and UBS. Mr. Haugestad holds a Bachelor of Science degree from the Wharton School, University of Pennsylvania and a Master of Business Administration degree from Harvard Business School.

Speaking on behalf of the Board of Directors, Henrik Christensen commented: "SeaBird is pleased to announce the appointment of Nils Haugestad as the company's new Chief Financial Officer. Nils brings extensive experience from the financial services industry and his expertise will be a great asset in helping us realize our growth strategy."

For further queries contact:
Jan-Eivind Fondal
CEO SeaBird Exploration
Phone: +47 46886200

SeaBird Exploration PLC 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 specialises 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.


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Source: SeaBird Exploration plc via Thomson Reuters ONE



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