Seven Seas Chairman and CEO Modifies 10b5-1 Sales Plan

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Seven Seas Chairman and CEO Modifies 10b5-1 Sales Plan

    HOUSTON, April 4 /PRNewswire-FirstCall/ -- Seven Seas Petroleum Inc.
(Amex: SEV) announced that Robert A. Hefner III, Chairman and CEO of Seven
Seas, has modified a plan he established in February 2002 to sell
1,000,000 shares of Seven Seas common stock.  This plan, established under
U.S. Securities and Exchange (SEC) Rule 10b5-1, previously provided for the
sale of 300,000 shares at prices between $4.00 and $6.99 per share,
350,000 shares between $7.00 and $9.99 per share, and 350,000 shares at
$10.00 per share or above.  The modification uniformly increases these ranges
by $3.00 so that Mr. Hefner will now sell 300,000 shares at prices between
$7.00 and $9.99 per share, 350,000 shares between $10.00 and $12.99 per share,
and 350,000 shares at $13.00 per share or above.  Mr. Hefner currently owns
4,783,251 shares and has the right to purchase an additional 8,699,402 shares
through the exercise of warrants and stock options.  In accordance with SEC
Rule 10b5-1, Mr. Hefner's sales plan was designed to assure that all sales of
common stock sold under the plan will not be influenced by, or made on the
basis of, material non-public information of which Mr. Hefner or any of his
affiliates may be in possession.
    Seven Seas Petroleum Inc. is an independent oil and gas exploration and
production company operating in Colombia, South America.  The Company's
primary emphasis is on the development and production of the Guaduas Oil Field
and exploration of the Subthrust Dindal Prospect, both of which are located in
Colombia's prolific Magdalena Basin.
    Statements regarding anticipated oil and gas production and other oil and
gas operating activities, including the costs and timing of those activities,
are "forward looking statements" within the meaning of the Securities
Litigation Reform Act.  The statements involve risks that could significantly
impact Seven Seas Petroleum Inc.  These risks include, but are not limited to,
adverse general economic conditions, operating hazards, drilling risks,
inherent uncertainties in interpreting engineering and geologic data,
competition, reduced availability of drilling and other well services,
fluctuations in oil and gas prices and prices for drilling and other well
services and government regulation and foreign political risks, as well as
other risks discussed in detail in the Seven Seas Petroleum Inc.'s filings
with the U.S. Securities and Exchange Commission.

SOURCE Seven Seas Petroleum Inc.

http://www.sevenseaspetro.com
Company News On-Call:

http://www.prnewswire.com/comp/123145.html
CONTACT:
Bryan Sanchez, Investor Relations of Seven
Seas Petroleum Inc., +1-713-622-8218