08/02-2010 17:36:00: (SONG) January Fleet Update
Songa Venus has achieved operating efficiency of 96% during the month. The rig
completed its last well under contract with ADA Consortium offshore North West
Australia on 18 January, thereafter demobilized to Singapore where it arrived on
30 January and is currently undergoing its Special Periodic Survey ("SPS")
inspections.
Songa Mercur has achieved operating efficiency of 98% during the month. The rig
completed its last well under the contract with Oilex in Australian/Timor JPDA
area on 29 January, and is currently demobilizing under tow to Singapore where
it will undergo its SPS.
Songa Saturn has achieved operating efficiency of 72% during the month. The rig
completed its mobilization to Equatorial Guinea, arriving 15 January, and is
currently working on the first out of two firm wells for CNOOC.
Songa Dee has achieved operating efficiency of 79% during the month. Further,
the rig suffered under a collision by supply vessel Far Grimshader on 18 January
and resumed operations after this incident on 27 January; for the purpose of
calculating the operating efficiency rate for this period, Songa has assumed
that the standby rate and conditions will apply. The rig continues to operate
for Marathon / Lundin in Norway.
Songa Delta has achieved operating efficiency of 97% during the month. The rig
is currently working for Wintershall / Det Norske Oljeselskap in Norway.
Songa Trym has achieved operating efficiency of 98% during the month. The rig
continues to operate for Statoil in Norway.
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#1381877]
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