Norway: SOFF Sells Two Vessels

Solstad Offshore ASA (SOFF) has entered into agreements for the sale of “Normand Tonjer” and “Nor Sun” to international buyers.

Both vessels will be delivered to new owners during this week. The sale of the two vessels will have a positive cash effect for SOFF of approximately NOK 87 mill and with a booked gain of approximately NOK 35 mill. The gain will be booked during 1st quarter 2014.

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Solstad Offshore, February 11, 2014