Aban Offshore Purchases Bulford Dolphin

A subsidiary of First Olsen Ltd., which in turn is owned 50/50 by Bonheur ASA and Ganger Rolf ASA, has entered into an agreement for the sale of the 1977 built semisubmersible Aker H3 rig Bulford Dolphin for a consideration of US $211 million to Aban Offshore Ltd. The rig is currently offshore Ghana, following a recent termination of a drilling contract in Nigeria.

Delivery is expected to take place in the 4th quarter 2007 and estimated net book sales gain is approximately US $193 million.

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