Borgholm Dolphin to Return to the North Sea

Upon expiration of the contract in Mexico for Pemex the accommodation unit, Borgholm Dolphin, has today commenced demobilization from Mexico to the North Sea. Borgholm Dolphin has operated for Pemex since December 2002 under a bareboat contract with the Mexican operating company Servicios Maritimos de Campeche, S.a. de C.V (SMC). Contractually redelivery is the North Sea and FOE will receive reduced day rate during the transit. Borgholm Dolphin is expected to arrive the North Sea mid August 2004, and is being offered for new accommodation contracts after its arrival.