Seacrest Petroleo Bermuda Limited: Reverse share split registered

03 Apr 2023 18:44 CEST

Rio de Janeiro, Brazil/Hamilton, Bermuda, 3 April 2023. Reference is made to the
stock exchange announcements made by Seacrest Petroleo Bermuda Limited (the
"Company") on 29 March 2023 and 31 March 2023 regarding a reverse share split of
the Company's shares at a ratio of 2:1.

The reverse share split has now been registered. Following such registration,
the authorized share capital of the Company is comprised of USD 8,981.25 divided
into 374,062,500 common shares of par value USD 0.00002 each, and 75,000,000
undesignated shares of par value USD 0.00002 each.

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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