Report for the first quarter 2011

Songa Offshore SE ("Songa") reports total comprehensive income for the first
quarter of 2011 of USD 25.1 million.

Operating revenue for the first quarter was USD 140.7 million. This includes
mobilization and demobilization revenue of USD 1.0 million.

Total  expenses for the first quarter were USD 90.0 million. The figure includes
a  non operational gain of  USD 0.2 million posted under  "other gain and loss".
The  "other gain and loss" is split between a loss on flippable swap of USD 0.3
million,  USD  1.8 million  in  currency  loss,  and  USD 0.5 million in gain on
disposal of short term investment.

EBITDA for the first quarter was USD 56.3 million.

Net financial expenses for the first quarter were USD 5.0 million.

Earnings  per share (EPS)  and diluted earnings  per share (DEPS)  for the first
quarter were USD 0.15.

Average number of shares for the quarter was 167,712,544, and as per end of the
period the outstanding number of shares was 167,712,544.

Please see attached Q1 2011 Report.

Limassol, 9 May 2011
Board of Directors
Songa Offshore SE

Questions should be directed to:
Geir Karlsen, CFO [phone] / [phone]


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.



Songa Offshore SE Q1 2011 Report: 


http://hugin.info/136777/R/1513545/449392.pdf




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Source: Songa Offshore SE via Thomson Reuters ONE

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