Songa Increases Capital

Share capital in Songa Offshore is increased by NOK 7.064.413 following a private placement and conversion of freely tradable warrants.

6.300.000 shares were issued in the private placement and 764.413 shares by the warrant conversion. Reference is made to section 7.2.1 in Listing Prospectus dated January 25, 2006 for a description of the warrants program.

Total number of shares after the private placement and the warrant conversion is 70.910.009. The capital increase is registered in the Norwegian securities' registry and an updated certificate of registration is submitted to Oslo BÝrs. After this conversion, the remaining number of freely tradeable warrants is 13.921.644.


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