Stmnt re Share Price Movement

18 May 2011

SeaEnergy PLC

("SeaEnergy" or the "Company")

Statement re Share Price Movement

The Company notes the recent movements in its share price, and confirms that there is nothing further to add at this point in time to the announcement which it made on 3 May 2011, in relation to the potential disposal of the Company's 80.13% subsidiary, SeaEnergy Renewables Limited ("SERL").

While there can be no certainty that current negotiations will result in a sale of SERL, these negotiations are continuing at present in line with the timing set out in the announcement of 3 May 2011.

Further announcements will be made as required.

-Ends-

For further information contact:

SeaEnergy PLC +44 1224 748480

Chris Moar, Finance 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.seaenergy-plc.com