Songa Offshore SE : Report for the First Quarte...

Songa Offshore SE ("Songa") reports operating revenue for the first quarter 2013 of USD 124.8 million, and a profit of USD 9,4 million.

"The results show that we have now definitely put a challenging period behind us. I am proud and happy to hand Songa over to a new CEO in a state of profit. All rigs are operational with a very high utilisation, and we have good control of all business processes, including the Category D new build programme," says interim CEO and Chairman of the Board, Jens A Wilhelmsen.

The focus for Songa going forward will be the continuous improvement of rig operations and to finance the new build program.   

"With the upgrade projects on the rigs behind us, we are now in a position where we should generate a good cash flow from our existing rigs going forward.  This is very important with regards to the financing of our new build programme", says Songa's CFO, Geir Karlsen.

Limassol, 16 May 2013
Board of Directors
Songa Offshore SE

Questions should be directed to:
Jens A Wilhelmsen, CEO and Chairman [phone]
Geir Karlsen, CFO [phone] / [phone]

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

Songa Offshore Q1 2013 Report

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Source: Songa Offshore SE via Thomson Reuters ONE

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