SEAPT – Key information relating to the reverse share split and change of ISIN

29 Mar 2023 15:58 CEST

Rio de Janeiro, Brazil/Hamilton, Bermuda, 29 March 2023. Reference is made to
the stock exchange announcement by Seacrest Petroleo Bermuda Limited ("Seacrest
Petroleo" or the "Company") earlier today, on 29 March 2023, regarding the
completion of a special general meeting in the Company.

Please note the following key information for the completion of the reverse
share split which was approved by the special general meeting today:

- Date on which the corporate action was made public: 17 February 2023
- Reverse split ratio: two (2) existing shares are consolidated into one (1)
share
- Last day including right: 30 March 2023
- Ex-date: 31 March 2023
- Record date: 3 April 2023
- Date of approval: 29 March 2023

In connection with the reverse share split, the Company's shares will be
transferred to a new ISIN. Please note the following key information for the
change of ISIN:

Issuer: Seacrest Petroleo Bermuda Limited
Previous ISIN: BMG7947V1211
New ISIN: BMG7947V2045
Date of ISIN change: 31 March 2023

This information is published in accordance with the requirements of the
continuing obligations.

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

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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