Bonheur & Ganger May Sell Shares in First Olsen Ltd.

First Olsen Ltd., which is owned 50/50 by Bonheur ASA and Ganger Rolf ASA, is advising on discussions which under certain circumstances may lead to a sale of all of the shares in an indirectly owned company that owns the drilling rig Bulford Dolphin.

Clarification on outstanding items is expected within the month of September. A positive outcome will imply that the shares are transferred in January 2007. The rig will however continue in the Dolphin Drilling Pool until completion of present contracts in December 2007.

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