Songa Mercur secures contract with Gazflot LLC

Songa Offshore is pleased to announce that a firm contract for use of Songa
Mercur has been agreed and signed with Gazflot LLC, a Gazprom subsidiary. The
contract covers the use of the Songa Mercur for Gazflot's upcoming drilling
campaign offshore Sakhalin Island during the 2010 Summer season.

The rig is currently scheduled to depart Singapore on or around 1st May 2010
after completion of ongoing SPS activities and Rig acceptance period.

The firm part of the contract is set at 180 days including mobilization from and
de-mobilization back to Singapore. An aggregated total revenue of approximately
USD 55 to USD 60 million is expected to be generated from the firm part of
contract.

Limassol, 7 March 2010


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


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