Successful completion of private placement

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES

Songa Offshore SE ("Songa Offshore" or the "Company") is pleased to announce the
successful  completion  of  a  private  placement  of 20,500,000 shares directed
towards  professional Norwegian and  international investors after  the close of
the  Oslo Stock  Exchange on  16 February 2010. The substantially oversubscribed
placement  was made  at a  price of  NOK 29 per  share, and the capital increase
represents  approximately 15% of  the outstanding  shares in  the Company. Gross
proceeds  from the private  placement amount to  NOK 594.5 million. The proceeds
will be applied towards general business purposes.

The  share capital increase  was resolved by  the Board of  Directors within the
authorised  share capital of the Company. The  share capital is increased by EUR
2,255,000 by the issue of 20,500,000 new shares. Following the completion of the
private  placement Songa Offshore's share  capital is EUR 17,308,229.84, divided
into 157,347,544 shares with a nominal value of EUR 0.11 per share.

The  subscribers  in  the  private  placement  will  be  delivered  existing and
unencumbered  shares in the  Company that are  already listed on  the Oslo Stock
Exchange,  pursuant to share  lending agreement entered  into between ABG Sundal
Collier  Norge ASA,  Songa Offshore  and Spencer  Energy AS  in respect of up to
20,500,000 shares,  equivalent  to  approximately  15% of  the current number of
outstanding  shares in the Company. The shares delivered to the subscribers will
thus  be tradable from the date they are allocated. A listing prospectus will be
prepared  in connection with the  listing on the Oslo  Stock Exchange of the new
shares issued in the private placement.

The  issue was  managed by  the investment  banks ABG  Sundal Collier Norge ASA,
Arctic  Securities ASA  and SEB  Enskilda AS  as joint  lead managers  and joint
bookrunners.

Limassol, 17 February 2010

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

                                      ***

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES:

The shares to be offered have not been and will not be registered under the U.S.
Securities  Act of  1933, as amended  (the "U.S.  Securities Act"), or any state
securities  laws, and will be offered within the United States only to qualified
institutional  buyers ("QIB"), as defined in Rule 144A under the U.S. Securities
Act  ("Rule 144A") or an  "Accredited Investor" as  defined under Rule 501(A) of
the  US Securities Act and  in reliance upon an  exemption from the registration
requirements  in  the  US  Securities  Act,  and  to certain non-U.S. persons in
offshore transactions in reliance on Regulation S under the U.S. Securities Act.
Any  US investor will be requested to sign and return an investor representation
letter  certifying that it is either a QIB or an Accredited Investor. The shares
to  be offered will be  subject to certain restrictions  on transfer. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy  nor shall there be any sale of  the securities in any country in which such
offer, solicitation or sale would be unlawful.

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


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