Standard Drilling Proposes NOK3.60 Payback of Share Capital

The Board of Standard Drilling ASA has called for an Extraordinary General Meeting on March 4rd 2008.

The Board has proposed to pay back share capital of NOK 3.60 per share.

After the General Meeting decision there will be a normal 2 months creditor notice period time before payment can be effectuated.

The payment is scheduled to take place in Q2 2008.