Report for the fourth quarter 2010

Songa Offshore SE ("Songa" or "the Company") reports total comprehensive income
for the fourth quarter of 2010 of USD 110.1 million.

Operating revenue for the fourth quarter was USD 159.1 million. This includes
mobilization and demobilization revenue of USD 8.6 million.

Total expenses for the fourth quarter were USD 22.1 million. The figure includes
a non operational gain of USD 71.0 million posted under "other gain and loss".
The majority of the "other gain and loss" consists of a gain of USD 66.3 million
from the sale of Songa Saturn, USD 8.9 million in currency gain and a loss of
USD 2 million from the buy-back of Bonds.

EBITDA for the fourth quarter was USD 146.9 million. This figure is after taking
into effect "other gain and loss".

Net financial expenses for the fourth quarter were USD 11.6 million.

Earnings per share (EPS) and diluted earnings per share (DEPS) for the fourth
quarter were USD 0.66. The Company reports comprehensive income of USD 110.1
million for the interim twelve months, and earnings per share of USD 1.18 and
diluted earnings per share of USD 1.18.

Average number of shares for the quarter was 167,712,544, and as per end of the
period the outstanding number of shares was 167,712,544.

Please see attached Q4 2010 Report.



Limassol, 14 February 2011

Board of Directors

Songa Offshore SE

Questions should be directed to:

Geir Karlsen, CFO +47  23 01 14 24 / [phone]













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



Songa Offshore SE Q4 2010 Report: 


http://hugin.info/136777/R/1488467/423880.pdf




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Source: Songa Offshore SE via Thomson Reuters ONE

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