Contract extension for FPSO Sendje Berge

NOT FOR PUBLIC DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, SOUTH AFRICA, CANADA, AUSTRALIA OR JAPAN

11 October 2010 - Addax Petroleum Exploration, part of the Sinopec group, has exercised the remaining two years of options for the FPSO Sendje Berge. The firm period has by this been extended until March 2013. The FPSO is operating on the Okwori field offshore Nigeria.

For further information, please contact:

Carl K. Arnet, CEO, +65 9630 3290
Knut R. Sæthre, CFO, +47 9111 7876