Seacrest Petroleo Bermuda Limited – Stabilisation measures taken

06 Mar 2023 18:35 CET

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Rio de Janeiro, Brazil/Hamilton, Bermuda, 6 March 2023. Reference is made to the
stock exchange announcement by Seacrest Petroleo Bermuda Limited (“Seacrest
Petroleo” or the “Company”) on 23 February 2023 where the Company announced the
beginning of the stabilisation period related to the initial public offering of
shares in Seacrest Petroleo (the “Offering”).

The Company has received notification that ABG Sundal Collier ASA, acting as
stabilisation manager in the Offering, has taken the stabilisation measures set
out in the attached notifications with respect to the shares of the Company.

For further information, please contact:

Torgeir Dagsleth, Chief Financial Officer
Seacrest Petroleo Bermuda Limited
Tel. +47 958 91 970
E-mail: torgeir.dagsleth@seacrest.com

Crux Advisers AS is acting as communications and investor relations adviser.

Senior Advisor Jan Petter Stiff
Crux Advisers AS
Tel. +47 995 13 891
E-mail: jps@crux.no

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. Current production is 7,000
bbl/d which is expected to triple by 2025. 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.

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584381_Appendix to 'Seacrest Petroleo Bermuda Limited - Stabilisation notice 6 March 2023'.pdf
584381_Seacrest Petroleo Bermuda Limited - Stabilisation notice 6 March 2023.pdf