Tuesday 25 May 2021

SeaBird Exploration Plc announces its first quarter 2021 update and report.

Headlines Q1 2021

* Rebranding and reorganizing into Green Energy Group (SBX Plc, "The Company") to be proposed to the upcoming AGM

* Rebranding marks a change in strategy and commitment to the green energy transition

* Green Energy Group relocates from Cyprus to Norway

* Offshore seismic business area maintains SeaBird Exploration name and becomes subsidiary of Green Energy Group

* Completed listing of Green Minerals AS on Euronext Growth

* Signed LOI with a consortium led by OSI Industries (UK) Ltd for a HEDSMS

* First ever contract award in offshore wind

* Awarded OBN source contract for 90 days in the Eastern Hemisphere

* EBITDA negative $0.5 million on 33% utilization

* Market conditions improving