Compulsory acquisition of shares

Written Thursday 16. October 2008 by Karina Veld

COSL Norwegian AS (COSL Norwegian) has, effective from close of trading on Oslo Stock Exchange on 15 October 2008, resolved to carry out a compulsory acquisition of all shares in Awilco Offshore ASA (AWO) owned by shareholders other than COSL Norwegian. COSL Norwegian has, as a consequence of this, assumed ownership of all shares in AWO. The offered redemption price is NOK 85 per share, which equals the NOK 85 offered under the voluntary offer.

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2 Quarter 2008

Written Friday 22. August 2008 by Karina Veld

Company update: In July China Oilfield Services Limited (COSL) launched a recommended voluntary cash tender offer at NOK 85 per share for 100% of the shares of AWO. On 15 August the acceptance period for the offer expired and COSL reached an acceptance level of 98.8 % of the total number of shares. COSL expects the transaction to be completed by late September/ early October.

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Board Statement and Mandatory Notification of Trade

Written Wednesday 13. August 2008 by Karina Veld

The acceptance period under the voluntary offer from COSL Norwegian AS (“COSL”), a subsidiary of China Offshore Services Limited, expires on Friday 15 August. The board of directors of Awilco Offshore still believes that the offer from COSL represents a fair value for the shareholders, and maintains its recommendation that the shareholders accept the offer.

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Contract extensions for accommodation rigs

Written Tuesday 24. June 2008 by Karina Veld

Awilco Offshore ASA has reached an agreement with ConocoPhillips Skandinavia to extend the contracts for the accommodation units Port Rigmar and Port Reval for an accumulated period of approximately five years.

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Notice for the annual general meeting

Written Wednesday 21. May 2008 by Karina Veld

The annual general meeting will take place at the Awilco Offshore's offices - Beddingen 8 Aker Brygge, Oslo, Norway - on Thursday May 29, 2008 at 3 p.m. CET.

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