Prosafe SE: Operational update for Q4 2012 and contract extensions

Rig utilisation in the fourth quarter of 2012 was 82 per cent. Safe Scandinavia, Safe Concordia, Safe Astoria, Safe Lancia, Jasminia, Safe Hibernia, Safe Britannia, Safe Regency and Safe Bristolia have been on contract throughout the fourth quarter. Safe Concordia is operating on a long-term contract in Brazil. In the fourth quarter the average effective dayrate was approximately USD 137,000. Safe Caledonia remained at the yard throughout the fourth quarter undertaking a life extension upgrade. Regalia was off-hire and at the yard undertaking maintenance work during the fourth quarter. The operating cost has been slightly higher than in normal operation. The first of four one-month options for Regalia for operations in 2014 has been exercised by Statoil. This declared option has a value of USD 9.3 million. The remaining three options are subject to availability of the Regalia. Prosafe and BP Norge AS have agreed to further extend the Safe Scandinavia's operations at Valhall until 7th February 2013. The value of the seven-day contract extension is USD 2.1 million. Prosafe is the world's leading owner and operator of semi-submersible accommodation/service rigs. Operating profit reached USD 192.3 million in 2011. The company operates globally, employs 550 people and is headquartered in Larnaca, Cyprus. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com. Larnaca, 22 January 2013 Georgina Georgiou, General Manager Prosafe SE For further information, please contact: Karl Ronny Klungtvedt, Chief Executive Officer Prosafe Management AS Phone: + 47 51 64 25 81 Sven Børre Larsen, Chief Financial Officer Prosafe Management AS Phone: +47 909 43 673 Cecilie Helland Ouff, Finance and IR Manager Prosafe AS Phone: +47 51 64 25 20 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: Prosafe SE via Thomson Reuters ONE [HUG#1672164]