Cyprus: Songa Offshore Provides January Fleet Update

Songa Venus achieved operating efficiency of 99% during the month. The rig continues to operate for Total E&P in Australia.

Songa Mercur achieved operating efficiency of 40% during the month. As per separate press release sent out 20 January 2011, the BOP and Marine Riser dropped to seabed during the month. BOP and all related equipment have since been successfully recovered to surface and the rig is currently undergoing preparations for tow to Singapore where the BOP and the equipment will be fully inspected and re-certificated.

Songa Dee achieved operating efficiency of 97% during the month. The rig continues operations for Marathon / Lundin in Norway.

Songa Delta has achieved operating efficiency of 99% during the month. The rig continues to operate for Wintershall / Det Norske Oljeselskap in Norway.

Songa Trym(Photo) has achieved operating efficiency of 95% during the month. The rig continues to operate for Statoil in Norway.

Songa Eclipse remains under construction at Jurong Shipyard in Singapore, overall construction and commissioning activities are progressing. The Company continues marketing the rig and has several specific contracts targeted for immediate start up after commissioning and delivery.

[mappress]

Source: Songa Offshore, February  4, 2011;