CP Latina gives notice of their intention to execute the option on B338.

16 Jan, 2013 08:45 CET

Cyprus 16th of January 2013 - It is referred to our  
release of 26 of November 2012 regarding option 
granted to CP Latina for the purchase of B338, 
currently under construction at Keppel FELS. 
CP Latina has now informed SDSD that they will 
exercise this option at the agreed gross price of USD 
215 million. Financial and legal closing of the 
transaction is set to take place on 15th of March 
2013. After the anticipated closing on the 15th of 
March 2013, SDSD will have one rig left (B340)
which is scheduled to be delivered from the yard in 
May 2014.

Geir Johansen
CFO
+65 965 89300