Seacrest Petroleo Bermuda Limited: New share capital registered ; allocated Offer Shares are now tradable

Rio de Janeiro, Brazil/Hamilton, Bermuda, 7 December 2023: Reference is made to
the announcement made by Seacrest Petroleo Bermuda Limited (“Seacrest Petroleo”
or the “Company”) on 6 December 2023 regarding the successful completion of a
private placement of 31,111,111 new common shares (the “Offer Shares”) in the
Company raising gross proceeds of USD 25.6 million (equal to approx. NOK 280
million) (the “Private Placement”).

The share capital increase pertaining to the issuance of the allocated Offer
Shares has been validly registered in the Company’s register of members.
Accordingly, the authorised share capital of Seacrest Petroleo is comprised of
USD 8,981.25 divided into 374,062,500 common shares of par value USD 0.00002
each, of which 358,550,017 common shares are issued and outstanding, and
75,000,000 undesignated shares of par value USD 0.00002 each. Moreover, the
Offer Shares have today been validly issued in the Norwegian Central Securities
Depository (VPS).

Allocated Offer Shares in the Private Placement are now tradable on Euronext
Expand Oslo and all conditions for completion of the Private Placement have been

For further information, please contact:

Torgeir Dagsleth, CFO
Seacrest Petroleo Bermuda Limited
Tel. +47 958 91 970

John de los Santos, Head of Investor Relations
Seacrest Petroleo Bermuda Limited
Tel. +44 79 4971 4756

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.

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

View disclosure and attachments on Newsweb