Songa Offshore SE

Mandatory notification of trade

The board of directors of Songa Offshore SE has decided to award stock
appreciation rights (or so-called "synthetic options") to certain key personnel
of the Songa Offshore Group. The number of new stock appreciation rights
corresponds to the value of 1,293,000 ordinary shares in the Company. Seen in
combination with the similar rights that were granted to employees in
2009, 2011 and 2012, the total number of outstanding stock appreciation rights
as per today corresponds to 6,271,018 ordinary shares in the Company (or approx.
3.09% of the Company´s existing share capital).

Each right gives the holder a right to receive, upon exercise, cash compensation
equal to the quoted share price of the shares upon exercise, less the strike
price. The strike price has been set at NOK 7.535 per share, which equals the
closing price for the shares of Songa Offshore SE on the Oslo Stock Exchange on
8 January 2013. The rights will be vested over a 3 year period counted from 1
January 2013, with 1/3 of the rights being vested each following year. The
rights may be exercised at any time in the 24 month period after the relevant
vesting period.

The following primary insiders have been awarded stock appreciation rights under
the new incentive programme:

Geir Karlsen, CFO, 198,000 new stock appreciation rights. Following the
transaction, Mr. Karlsen holds 998,000 rights to shares in the Company.

Trond Christensen, COO, 198,000 new stock appreciation rights. Following the
transactions, Mr. Christensen holds 320,001 shares and 998,000 rights to shares
in the Company.

Limassol, 9 January 2013

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

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
[HUG#1669167]

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