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SALE OF BULFORD DOLPHIN

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A subsidiary of First Olsen Ltd., which in turn is
owned 50/50 by Bonheur ASA and Ganger Rolf ASA,
has entered into an agreement for the sale of the
1977 built semi-submersible Aker H3 rig Bulford
Dolphin for a consideration of USD 211mill. The
rig is currently offshore Ghana, following a
recent termination of a drilling contract in
Nigeria. Delivery is expected to take place in the
4thquarter 2007 and estimated net book sales gain
is approx USD 193 mill.A subsidiary of First Olsen Ltd., which in turn
is
owned 50/50 by Bonheur ASA and Ganger Rolf ASA,
has entered into an agreement for the sale of the
1977 built semi-submersible Aker H3 rig Bulford
Dolphin for a consideration of USD 211mill. The
rig is currently offshore Ghana, following a
recent termination of a drilling contract in
Nigeria.

Delivery is expected to take place in the 4th
quarter 2007 and estimated net book sales gain is
approximately USD 193 mill.

For further information please contact Per-Oscar
Lund, Managing Director of First Olsen Ltd. phone:
+47 22341181/ +47 90780254

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