Sale of Songa Saturn

Reference is made to the press release sent out on September 20, 2010 regarding
the sale of the drillship Songa Saturn.  Songa Offshore SE ("the Company") is
pleased to announce that the transaction is now finalized and the drillship was
delivered to a wholly owned subsidiary of PetroSaudi Oil Services Ltd this
morning.  The drillship is sold for net sale proceeds of USD 260 million.

The transaction will give a positive result of approximately USD 67 million,
which will be recorded in the fourth quarter of 2010.  The net cash effect from
the transaction after repayment of debt will be approximately USD 150
million.
The sale represents no change in the Company's growth strategy but should be
seen as an opportunistic move against the Company's plan to expand the fleet
into newer assets.
Limassol, 8 October 2010
Questions should be directed to:
Geir Karlsen, CFO [phone] / [phone]
Tom Jebsen, SVP [phone] / [phone]


This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1450082]








This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Songa Offshore SE via Thomson Reuters ONE