March fleet update

Songa Venus successfully completed its 5 yearly SPS and pre contract acceptance tests and commenced tow for upcoming contract in Australia contract on 22 March, the SPS was completed within prepared schedule and within set budget estimates with only marginal over run to both. The rig arrived at North West shelf drilling location and started first out of 3 firm wells for Shell Australia the 2 April 2010. Songa Mercur arrived Singapore on 12 March and is currently undergoing its 5 yearly SPS inspections, the earlier announced anchor chain issue has now been resolved and the rig is scheduled to be dry docked at Keppel FELS yard for an estimated 10 days from 11 April to undertake required steel repairs and complete SPS inspections. The rig is thereafter scheduled to depart Singapore for earlier announced upcoming Gazflot contract in Sakhalin, Russia, with estimated start up of contract 1 May 2010. Songa Saturn has achieved operating efficiency of 96% during the month. The rig continued working on the second of two firm wells for CNOOC in Equatorial Guinea, the contractual third optional well was not exercised by CNOOC and the rig is currently scheduled to start demobilization mid to late April. The rig is in parallel being actively marketed, and has received positive indications from clients for onwards work in West Africa region with only limited waiting periods between contracts. Songa Dee has achieved operating efficiency of 97% during the month; the rig continues to operate for Marathon / Lundin in Norway. Songa Delta has achieved operating efficiency of 98% during the month; the rig is currently working for Wintershall / Det Norske Oljeselskap in Norway. Songa Trym has achieved operating efficiency of 99% during the month; the rig continues to operate for Statoil in Norway. Limassol, 6 April 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#1400600]