Capital increase of NOK 12,500 following conversion of 12,500 freely tradable warrants.

 

Share capital in Songa Offshore ASA is increased following conversion of freely tradable warrants. Reference is made to section 7.2.1 in Listing Prospectus dated 25 January, 2006 for a description of the warrants program. A total of 12,500 new shares have been issued by this warrant conversion. Total number of shares after this conversion is 87,264,027. The capital increase is registered in the Norwegian securities' registry and an updated certificate of registration is submitted to Oslo Stock Exchange. After this conversion, the remaining number of freely tradable warrants is 6,089,517.

 

Oslo, 2007-11-08