Issuance of new shares

Reference  is made to the announcements of 16 and 17 February 2009 regarding the
private  placement of 20,500,000 new shares (the "New Shares") in Songa Offshore
SE (the "Company").

The  New Shares  have now  been validly  issued, and  the Company's issued share
capital has been increased to EUR 17,308,229.84, divided into 157,347,544 shares
with a nominal value of EUR 0.11 per share.

The  New Shares  have been  registered in  the Norwegian  Centralized Securities
Depository  on a  separate ISIN,  being CY 010  1212112, and cannot be traded on
Oslo  Børs until the Company  has published a prospectus  in connection with the
listing of the New Shares.

Upon   approval  of  the  prospectus,  the  new  shares  will  automatically  be
transferred  to the  Company's ordinary  ISIN, being  CY 010 0962113, and become
tradable on Oslo Børs.



Limassol, 23 February 2010

For further enquiries, please contact:
Tom E. Jebsen, CFO ([phone])

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1387393]