Letter of Award received from Shell Development...

Further to the announcement in December 2009 of the signing of a Letter of Intent with Shell Development (Australia), Songa Offshore is pleased to announce that it has received a Letter Of Award from Shell Development (Australia) confirming the use of the Songa Venus for the upcoming 2010 Exploration Drilling Campaign in the Browse Basin in Australia. The program has an estimated duration of 156 days.  Shell Development (Australia) will also have the right to exercise up to three additional Optional wells with an estimated duration of 50 to 60 days each. The firm program is expected to generate aggregate revenue in excess of USD 40 million. The contract with Shell Development (Australia) is expected to commence on or around 1 April 2010, following Songa Venus' five-year Special Periodic Survey currently taking place in Singapore. Limassol, 8 February 2010 About Songa: Songa is a provider of offshore drilling services.  With its fleet of six rigs, it currently operates in the North Sea, offshore North and West Australia and offshore North and West Africa.  Songa is headquartered in Limassol, Cyprus. Forward Looking Statements:   Certain statements in this announcement are forward-looking. These forward-looking statements represent expectations for Songa's business and results of operations, and involve risks and uncertainties. These forward-looking statements are based on current expectations, assumptions and projections about future events.  Because these expectations and assumptions involve known and unknown risks, uncertainties and other factors, which are in some cases beyond Songa's control, actual results or performance may differ materially from those expressed or implied by such forward-looking statements. Given the risks and uncertainties, investors are cautioned not to place undue reliance on such forward-looking statements. This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act) [HUG#1381880]
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