1. SeaBird Exploration
Pareto Securities Oil & Offshore Conference
4 September 2013

2. Forward-looking statements
All statements contained in this presentation that are not statements of historical facts, including
statements on projected operating results, financial position, business strategy and other plans and
objectives for future results, constitute forward-looking statements and are prediction of, or indicate,
future events and future trends which do not relate to historical matters. No person should rely on
these forward-looking statements because they involve known and unknown risks, uncertainties and
other factors which are, in many cases, beyond the company’s control and may cause its actual results,
performance or achievements to differ materially from anticipated future results, performance or
achievements expressed or implied by the forward-looking statements and from past results,
performance or achievements. These forward-looking statements are made as of the date of this
presentation and are not intended to give any assurance as to future results. None of the company, its
employees and representatives assumes any obligation to update these statements. This presentation
includes historical financial data. Your attention is directed to the notes to such data for a description of
the accounting principles used to prepare historical data. This presentation must be viewed only in
connection with the company’s separately distributed earnings releases.
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3. SeaBird at a glance
• Global provider of marine 2D and 3D seismic
data for the oil and gas industry
• Market leader in core business segments
• Offices in Cyprus, Oslo, Dubai, Houston and
Singapore
• 550 employees
• Uniquely positioned with its industry-leading
Health, Safety, Security, Environment and
Quality (HSSEQ) culture and accreditations
• Operational excellence ensures best-in-class
performance
• Continued focus on technological development
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4. Core business segments
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• Global market
leader
• Largest fleet
2D acquisition
• Natural fit with
fleet composition
• Attractive market
trends
Source
• 4-8 streamer
market
• Smaller areas;
challenging
environments;
shallow water
3D acquisition
• Optimize fleet
utilization
• Capitalize on
attractive
opportunities
Multi-client

5. Well positioned fleet mix
2D vessels and source vessels
3D vessels
Osprey Explorer
Aquila Explorer
4 X 8000m
Northern Explorer
Voyager Explorer
4 X 6000m
Harrier Explorer
Hawk ExplorerMunin Explorer
Shallow water
3D vessels
Geo Pacific, 8 X 6000m
Kondor Explorer
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Note: Aquila Explorer is
currently operating as a
2D vessel

6. Blue-chip client base
Major oil
National oil
Independent oil /
seismic
• History of operational excellence ensures blue-chip client base
• Leading HSSEQ systems prequalifies the company to work with most oil majors,
which sets it apart from it’s competitors
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7. Sales strategy
• The company is generally targeting to have a mix of long-term and short-term
contracts
• We will generally look to have a portion of the fleet working on longer assignments
– Ensures a steady revenue stream
– Higher utilization
– Given the higher utilization on longer-term contracts, average revenues can prove very
attractive
• A number of vessels are still targeting the short-term market segment
– Provides option to capitalize on more profitable opportunities
– A substantial portion of the 2D and niche 3D contracts are shorter term in nature
• While this mix of contract durations provides added flexibility, it can also result in idle
vessel time in-between contracts
– This risk is greater in weaker market environments, but can also be a factor in more robust
markets
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8. • Optimize fleet utilization and capitalize on attractive investment opportunities
• Will generally look to partner with other industry participants
• Three projects to date in 2013; additional projects under review for second half
of the year
• Will require time and investment to reach critical mass
Multi-client strategy
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9. Snøspurv 2D multi-client survey
• 6,300 km 2D survey in the
Barents Sea in partnership with
Searcher Seismic
• Completed July 2013; processed
data available to clients from Q4
2013
• Well-tie survey linking geology
from Barents Sea West to
Barents Sea Southeast
• Authorities have stated that
main focus for the 23rd licensing
round will be South East Barents
Sea..
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10. Namibia 2D multi-client survey
• 5,400 km 2D survey in Namibia in
partnership with GeoPartners
• Completed July 2013; processed
data available to clients from Q4
2013
• Project is funded by existing
operators
• New block partners trigger
additional data sales
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11. Multi-client library
Multi-client libraries with further sales potential
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Total multi-client book value was USD 6.0 million as of 30 June 2013
All surveys are with partners; SeaBird revenue share on sales
1) Surveys with revenue share that have a capped upside (no further revenues
above a certain threshold)
1)
Survey partners and country Number of km Year completed
Searcher Seismic Australia 13,213 2009 / 2011 / 2012
TGS Indonesia 7,414 2009 / 2010 / 2011
MCG Barbados 7,018 2012 / 2013
Searcher Seismic Philippines 6,850 2012
Searcher Seismic Norway (Snøspurv) 6,286 2013
Geopartners Namibia 5,424 2013
Spec Partners Norway 3,955 2010
Spectrum Gulf of Mexico 2,541 2009
Spectrum Madagascar 1,575 2012
Spectrum Namibia 1,432 2012

12. Historical operating comparison
12
74%
93%
64%
88%
79%
85%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Vessel utilization
43.6
38.4 34.5
48.5
36.2
48.7
45.5
34.9
48.6
40.2
0
10
20
30
40
50
60
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Revenues
(USD millions)
Contract revenue Multi-client revenue
17.2
11.7
6.8
11.1
3.7
0
2
4
6
8
10
12
14
16
18
20
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
EBITDA
(USD millions)
7.0
2.5
4.2
6.8
3.7
0
2
4
6
8
Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
Capital expenditure
(USD millions)
Note 1: Utilization for Q2 12 excluding GGS Atlantic was 85%
Note 2: Utilization from Q2 13 includes the Geo Pacific

13. Regional areas of focus
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14. Segment operating activity
• We are seeing good demand in all operating regions
– EAME was lower in second quarter 2013 as two vessels in the region focused on
multi-client surveys
• With Voyager and Geo Pacific active, revenue related to niche 3D surveys
is representing a larger share of the company’s operations
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10.3 6.9 11.0
12.8
17.5
33.3
31.5
23.5
35.7
18.7
0.0
10.0
20.0
30.0
40.0
50.0
60.0
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
2D/3D contract revenues
(USD millions)
3D 2D
29.8
20.4
5.2
13.4
4.6
11.0
10.5
10.9
12.2
18.9
2.8
7.5
18.4
22.9
12.7
0.0
10.0
20.0
30.0
40.0
50.0
60.0
Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013
Contract revenue by region
(USD millions)
EAME NSA APAC

15. Market pricing and outlook
• Strong day rates continued through
the second quarter 2013
• Pricing remains firm
• High level of tender activity in both
2D and niche 3D markets
• Backlog of about USD 100 mill
• In spite of robust seismic markets,
vessel repositioning will from time
to time impact utilization
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$45 $45 $45
$60 $60
$70 $70 $70
$90$75
$85 $85
$100
$110
$120
$110 $110 $110
0
20
40
60
80
100
120
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
2D High end
(USD thousand)
Low High
$75
$85 $85
$115 $115 $120 $115 $115 $120
$120
$140 $140
$170 $170
$180 $170 $180 $180
0
20
40
60
80
100
120
140
160
180
Q2 11 Q3 11 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13
3D Low end
(USD thousand)
Low High
Source: Petrodata

16. Q&A
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