Correction: Seacrest Petroleo Bermuda Limited: Mandatory notification of trade by primary insider

Rio de Janeiro, Brazil/Hamilton, Bermuda, 12 July 2023: Torgeir Dagsleth, CFO
and primary insider of Seacrest Petroleo Bermuda Limited (the “Company”), has
today exercised 175,000 options, each giving the right to one share in the
Company. The options were exercised at a strike price of USD 0.00002 per share.
Following the option exercise, Torgeir Dagsleth holds 175,000 common shares and
0 options in the Company.

Please see the enclosed form for notification of transactions conducted by
primary insiders for further details about the exercise of options.

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 140 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.

The information is subject to the disclosure requirements in Regulation EU
596/2014 (MAR) article 19 number 3 and section 5-12 of the Norwegian Securities
Trading Act.

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