Two Further Ship Management Contracts

8 August 2014

SeaEnergy PLC

TWO FURTHER SHIP MANAGEMENT CONTRACTS

SeaEnergy PLC, the innovation-led offshore energy services business, is pleased to announce that its recently established joint venture (JV) GOSeaEnergy Ship Management Limited (GOSEA) has this week been awarded the ship management of two more vessels.

GOSEA was established in June 2014, as a JV between Go Offshore (Asia) Pte Ltd. a Singapore based shipping company and SeaEnergy Ship Management Limited, the latter holding a 51% share.

The first vessel, the newly built Go Pegasus, is a DP2 anchor handler (AHTS), owned by the Singapore based Otto Marine Limited (Otto). The Go Pegasus is flagged in the Marshall Islands and will shortly arrive in the U.K. where it will be operating under charter and deployed on ploughing activities in the western UKCS. The vessel has a crew of 20. The GOSEA team is responsible for the full management of the vessel's crew, provisions and technical support.

The GOSEA team have also taken over the operational management of the Go Electra, a DP2 multi-purpose support vessel is owned by RY Offshore Pte Limited. It is currently operating under charter for Harkand ISS and is carrying out ROV surveys and air diving operations, primarily in the North Sea. The vessel which is flagged in the Marshall Islands has a crew of 21.

Mike Comerford, Operations Director for SeaEnergy PLC, commented:

"It is a busy and exciting time for us as a Group and we are delighted to have increased the number of ships under management in such a short timeframe. We have had excellent feedback from the companies chartering these vessels - a credit to the wealth of experience of our team at GOSeaEnergy."

Notes

About SeaEnergy PLC:

SeaEnergy PLC is an innovation-led offshore energy services business, based in Aberdeen, Scotland and listed on the London Stock Exchange's AIM Market. The Group's three active divisions comprise of R2S, Consulting and Marine. R2S provides photographic capture and three dimensional modelling of oil & gas installations, linking these images to asset management databases for major international oil operators, allowing them to improve the performance of their assets whilst providing operational efficiencies. The Consulting division delivers strategic support for companies in offshore energy, helping them to improve asset integrity, reduce costs and improve output. The Marine division offers ship management services for offshore vessels in both oil & gas and offshore wind roles.

About Otto Marine Limited:

Otto Marine Limited is a shipping focused offshore marine group. Otto owns and operates a large fleet of offshore support vessels with a worldwide presence, complemented by a technically proven shipyard located in Batam, Indonesia which provides ship repair, maintenance and conversion to both our fleet and third party customers.

Otto vessels are deployed globally in the major offshore oil and gas markets, providing quality service and support to national oil companies, international oil majors and other upstream players, with the broader objective of providing global energy solutions.

About GOSeaEnergy:

GOSeaEnergy Ship Management Limited (GOSEA) was established in June 2014 when SeaEnergy Ship Management Limited (SEASM) a subsidiary of SeaEnergy PLC entered into a 51:49 joint venture (JV) with Go Offshore (Asia) Pte Ltd (GO) a Singapore based shipping company, with SEASM having 51%. The first vessel to be taken under management was the Surf Ranger which is currently operating in the North Sea under charter and is deployed on subsea support to exploration and production operations. The vessel has a crew of 20. The GOSEA JV combines GO's operational experience and financial strength and SEASM's extensive management experience of these vessel types.

For further information contact:

www.seaenergy-plc.com

www.seasm.com