NEW CERTIFICATE OF REGISTRATION

Oslo Børs has received certificate of registration in
connection with the conversion of shares in the Company,
ref notice of 10 February 2006. The share capital increase
is now filed with the Register of Business Enterprises.

The new share capital after conversion is NOK
1.224.148.440 divided into 61.207.422 shares at par value
NOK 20,-.

About Us

Fred. Olsen Energy ASA (the Company) is listed on the Oslo Stock Exchange and provides exploration and production services to the offshore oil and gas industry building on 150 years experience in shipping and more than 35 years in offshore drilling. The Company focuses on rewarding long term customer relationships where innovative and integrated solutions are presented to the benefit of our customers, shareholders and employees.

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