Repayment Terms of Existing Loan Facility Extended

Date: 31 January 2011

SeaEnergy PLC

("SeaEnergy" or the "Company")

 Repayment Terms of Existing Loan Facility Extended

SeaEnergy (AIM: SEA) today announces that it has agreed a further extension to the terms of an existing loan facility until the earlier of 31 March 2011, or completion of the SeaEnergy Renewables Limited ("SERL") sale process. The facility is provided by LC Capital Master Fund, Ltd ("LC"), a major shareholder in SeaEnergy and follows an announcement on 24 December 2010 that LC had agreed an extension to 31 January 2011.

At this time £700,000 of the current facility remains to be drawn by SeaEnergy. LC have also agreed to increase the size of the facility by £500,000 to £4.3 million

The Scottish Government has indicated that a Plan and Post Adoption Statement for the Scottish Territorial Waters Strategic Environmental Assessment ("SEA") will be published before the end of March 2011. The SEA covers two of SERL's offshore wind projects.

While the negotiations for the disposal of SERL are at an advanced stage, there can be no certainty that they will result in the disposal of SERL. Further announcements will be made in due course.

-Ends-

For further information contact:

SeaEnergy PLC +44 1224 748480

Steven Bertram - Managing Director

Ambrian Partners Limited - NOMAD & Broker +44 20 7634 4700

Andrew Craig, Ben Wright

Kreab Gavin Anderson +44 20 7074 1822

Kate Hill, Ken Cronin, Andrew Jones

NOTES TO EDITORS

SeaEnergy PLC

SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited (SERL) is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice Demonstrator offshore wind farm (10MW) (the "Beatrice Demonstrator Project") which is owned and operated by Talisman Energy. The Beatrice Demonstrator Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.

Prior to the UK Round 3 award SeaEnergy had secured a 25% interest in two Scottish offshore wind farm sites, Beatrice and Inch Cape. The award of Zone 1 in the UK Round 3 leasing programme with partners EDP Renováveis takes SeaEnergy's net capacity in the UK to over 781MW. SeaEnergy has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation and a Strategic Cooperation Agreement with Nantong COSCO Ship Steel Structure Co. Ltd (NCSC) to develop and market steel structures for the offshore wind industry.

www.seaeenergy-plc.com