Mandatory Notification of Trade

The board of directors of Songa Offshore SE has decided to award stock
appreciation rights (or so-called "synthetic options") to certain key personnel
of the Songa Offshore Group. The number of new stock appreciation rights
corresponds to the value of 2,500,000 ordinary shares in the Company. Seen in
combination with the similar rights that were granted to employees in 2009 and
2011, the total number of outstanding stock appreciation rights as per today
corresponds to 5,761,860 ordinary shares in the Company (or approx. 3.44% of the
Company's existing share capital).

Each right gives the holder a right to receive, upon exercise, cash compensation
equal to the quoted share price of the shares upon exercise, less the strike
price. The strike price has been set at NOK 18.30 per share, which equals the
closing price for the shares of Songa Offshore SE on the Oslo Stock Exchange on
30 December 2011. The rights will be vested over a 3 year period counted from 1
January 2012, with 1/3 of the rights being vested each following year. The
rights may be exercised at any time in the 24 month period after the relevant
vesting period.

The following primary insiders have been awarded stock appreciation rights under
the new incentive programme:

Asbjørn Vavik, CEO, 300,000 new stock appreciation rights. Mr Vavik has
exercised 200,000 options as per 30 December 2011 at a strike price of NOK
18.30 per share.  This is done due to the fact that these options would expire
January 1, 2012.  Following these transactions, Mr. Vavik holds 100,001 shares
and 1,000,000 rights to shares in the Company (including the stock appreciation
rights).

Geir Karlsen, CFO, 300,000 new stock appreciation rights. Following the
transaction, Mr. Karlsen holds 800,000 rights to shares in the Company.

Trond Christensen, COO, 300,000 new stock appreciation rights. Mr Christensen
has exercised 200,000 options as per December 30 2011 at a strike price of NOK
18.30 per share.  This is done due to the fact that these options would expire
January 1, 2012.  Following the transactions, Mr. Christensen holds 320,001
shares and 1,000,000 rights to shares in the Company (including the stock
appreciation rights).

Limassol, 31 December 2011

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.






This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Songa Offshore SE via Thomson Reuters ONE

[HUG#1574511]