Seacrest Petroleo - M&A Activity 2024

Seacrest Petroleo Pays Petrobras

Rio de Janeiro, Brazil/Hamilton, Bermuda, 2 January 2024: Seacrest Petroleo

Bermuda Limited ("Seacrest Petroleo" or the "Company") announces that its

group companies have today made two payments totalling BRL 170,592,448.15 to

Petróleo Brasileiro S.A. - Petrobras. These payments relate to both contingent

and non-contingent consideration arising under the relevant purchase and sale

agreements for the Company's acquisitions of the Cricaré and Norte Capixaba

Clusters.

For further information, please contact:

Torgeir Dagsleth, CFO

Seacrest Petroleo Bermuda Limited

Tel. +47 958 91 970

John de los Santos, Head of Investor Relations

Seacrest Petroleo Bermuda Limited

Tel. +44 79 4971 4756

The information in this notice is subject to the disclosure requirements

pursuant to section 5-12 of the Norwegian Securities Trading Act and the

Euronext Rule Book part II.

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. 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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