Letter of Award received from Shell Development (Australia)
(Thomson Reuters ONE) - Further to the announcement in December 2009 of the signing of a Letter ofIntent with Shell Development (Australia), Songa Offshore is pleased to announcethat it has received a Letter Of Award from Shell Development (Australia)confirming the use of the Songa Venus for the upcoming 2010 Exploration DrillingCampaign 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 Optionalwells with an estimated duration of 50 to 60 days each. The firm program isexpected to generate aggregate revenue in excess of USD 40 million.The contract with Shell Development (Australia) is expected to commence on oraround 1 April 2010, following Songa Venus' five-year Special Periodic Surveycurrently taking place in Singapore.Limassol, 8 February 2010About 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 andoffshore North and West Africa. Songa is headquartered in Limassol, Cyprus.Forward Looking Statements: Certain statements in this announcement areforward-looking. These forward-looking statements represent expectations forSonga's business and results of operations, and involve risks and uncertainties.These forward-looking statements are based on current expectations, assumptionsand projections about future events. Because these expectations and assumptionsinvolve known and unknown risks, uncertainties and other factors, which are insome cases beyond Songa's control, actual results or performance may differmaterially from those expressed or implied by such forward-looking statements.Given the risks and uncertainties, investors are cautioned not to place unduereliance 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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Datum: 08.02.2010 - 11:35 Uhr
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