Report for the first quarter 2010

Songa Offshore SE ("Songa") total comprehensive income for the first quarter
2010 was USD 33.2 million.

Revenue for the first quarter was USD 164.1 million. This includes mobilization
and demobilization revenue of USD 12.6 million.

Total expenses for the first quarter were USD 88.9 million, the figure includes
a non operational loss of USD 2.5 million posted  under "other gain and loss".
The "other gain and loss" is split between loss on flippable swap with USD 1.5
million, USD 1.8 million in currency loss and USD 0.8 million in gain on
disposal of assets.

EBITDA for the first quarter was USD 75.2 million. This figure is after taking
into effect "other gain and loss".

Net financial expenses for the first quarter were USD 9.4 million.

Earnings per share (EPS) for the first quarter were USD 0.22. Diluted earnings
per share (DEPS) for the first quarter were USD 0.22.

Average number of shares for the quarter was 147,567,263, and as per end of the
period the outstanding number of shares was 167,712,544.


Please see attached Q1 2010 Report

Limassol, 3 May 2010

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


[HUG#1410965]





    Songa Offshore SE Q1 2010 Report: 

http://hugin.info/136777/R/1410965/363313.pdf