Seacrest Petroleo Bermuda Limited: Share issuance from exercise of options by primary insider

Rio de Janeiro, Brazil/Hamilton, Bermuda, 17 July 2023: Reference is made to the
announcement regarding the mandatory notification of trade published on 12 July
2023. As a consequence of the exercise of options, Seacrest Petroleo Bermuda
Limited has issued 175,000 common shares of par value USD 0.00002 each. Thus,
the authorized share capital of Seacrest Petroleo Bermuda Limited is comprised
of USD 8,981.25 divided into 374,062,500 common shares of par value USD 0.00002
each, of which 327,438,932 common shares are issued and outstanding, and
75,000,000 undesignated shares of par value USD 0.00002 each.

For further information, please contact:

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

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 the Norwegian Securities Trading Act and the Euronext Rule Book part II.

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