May Fleet Update

Songa Venus has during May undergone BOP (Blow Out Preventer) repairs whilst on
location in Australia. Newly installed BOP components failed during operations
1st May and several unsuccessful attempts to rectify the problems have been
carried out during the month. The failing BOP component is currently undergoing
repairs in Singapore. It is anticipated that the BOP is fully repaired and
re-instated to specifications by mid June. The rig will then continue its work
on the first out of 3 firm wells for Shell Development (Australia).

Songa Mercur achieved operating efficiency of 100% during the month, the rig
completed its previously announced client required modifications/upgrades in
Singapore and commenced tow from Singapore on 11 May towards Sakhalin Island,
Russia, for the upcoming one well Gazflot-contract. The rig is currently sitting
outside Pusan, Korea, for tug vessel fueling and crew change before entering
Russian territorial waters.

Songa Saturn has achieved operating efficiency of 100% during the operational
part of month. The rig completed its de-mobilization back to Malta 12 May and is
currently warm stacked undergoing regular maintenance and operational
preparation for future contracts. The Company continues to actively market the
rig and has received positive indications from several clients for onwards work
for the unit.

Songa Dee has achieved operating efficiency of 99% during the month. In
addition, scheduled maintenance periods of approx 3 days took place. The rig
continues to operate for Marathon/Lundin in Norway.

Songa Delta has achieved operating efficiency of 99% during the month. The rig
is currently working for Wintershall/Det Norske Oljeselskap in Norway.

Songa Trym has achieved operating efficiency of 100% during the month. The rig
continues to operate for Statoil in Norway.

Songa Eclipse is currently under construction at Jurong Shipyard, Singapore.
Mating of upper and lower hull sections took place during the month. Overall
construction activities are progressing slightly ahead of schedules and
estimated delivery time remains end of April 2011. The Company is actively
marketing the rig and have several specific contracts targeted for immediate
start up after commissioning and delivery

BOP sale agreement:

A memorandum of agreement have been entered into in principle with Odfjell
Invest Ltd for their purchase of a Blow Out Preventer (18 ¾" x 15k) that the
Company has had under construction from Cameron International Company in the US.
The agreed sales price is in excess of USD 20mill + finance cost occurred during
the building period. As a part of this agreement, Songa Offshore will keep the
marine riser and associated equipment that take part of the original BOP and
equipment order placed with Cameron International.

Limassol, 2 June 2010

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


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