The updated financial calendar for 2012 for Sevan Marine ASA is as follows:

As described in the Prospectus dated December 7, 2011, the standstill arrangements with ING Bank N.V and E.ON regarding the Voyageur project expired yesterday, January 31, 2012.

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”). The shares currently traded on Oslo Børs under the trading symbol “SEVAN N”  (ISIN NO 001 0630502) were previously announced to be assumed under the ordinary ISIN for Sevan Marine shares, ISIN NO 001 0187032, on January 13, 2012.

The financial calendar 2012 for Sevan Marine ASA is as follows:

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”) in respect of issuance of new shares in the Company through the Company’s offering completed on December 23, 2011.

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”) in respect of the completed offering of new shares in the Company (the “Offering”). The share capital increase pertaining to the new shares issued through the Offering was today registered with the Norwegian Registry of Business Enterprises (Nw. Foretaksregisteret). After the registration, the registered share capital of Sevan Marine is NOK 210,427,996 comprising of 52,606,999 shares each with a par value of NOK 4.00.

On the basis of the mandatory offer of Teekay Service Holdings Cooperatif U.A. (“Teekay”) for shares in Sevan Marine ASA (“Sevan Marine” or the “Company”) being made in concert with the Board of Directors of Sevan Marine pursuant to an agreement on the restructuring of the Company, Oslo Børs, in its capacity as take-over supervisory authority, has decided that the statement on the mandatory offer pursuant to the Norwegian Securities Trading Act section 6-16 shall be made by an independent competent expert engaged by the Company. On this basis the Company engaged BDO AS to issue the statement on the mandatory offer.

The board of directors of Sevan Marine ASA (the “Company”) has decided not to appeal the decision announced on December 14, 2011 by the board of directors of the Oslo Stock Exchange (the “OSE”) to impose a fine on the Company. While the Company used its best efforts to address and resolve complex issues in challenging times, and believes the OSE’s retrospect assessment and the sanction is particularly strict, the new board and management wish to move forward and focus on future business opportunities.

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”) in respect of its offering of new shares in the Company for gross proceeds of up to approximately NOK 141 million (or approximately USD 25 million) (the “Offering”).

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”) in respect of its offering of new shares in the Company for gross proceeds of up to approximately NOK 141 million (or approximately USD 25 million) (the “Offering”).

Det vises til tidligere børsmeldinger av Sevan Marine ASA (“Sevan Marine” eller “Selskapet” vedrørende det pågående tilbudet om tegning av nye aksjer i Selskapet (“Tilbudet”).

Reference is made to previous announcements by Sevan Marine ASA (“Sevan Marine” or the “Company”) in respect of its ongoing offering of new shares in the Company (the “Offering”).

Please see attached presentation (the “Presentation”) of Sevan Marine ASA (“Sevan Marine” or the “Company”)  to be used by the Company in connection with meetings with shareholders and others. The information contained in the Presentaiton is qualified in its entirety by reference to the information set out in the Company’s prospectus dated December 7, 2011.

Vennligst finn vedlagt presentasjon («Presentasjonen») som skal benyttes av Sevan Marine ASA («Sevan Marine» eller «Selskapet») i forbindelse med møter med aksjonærer og andre. Informasjonen i Presentasjonen er i sin helhet kvalifisert av informasjonen i Selskapets prospekt datert 7. desember 2011.

Som tidligere offentliggjort i børsmeldinger planlegger Sevan Marine ASA (“Sevan Marine” eller “Selskapet”) å hente inn ca NOK 141 millioner gjennom en emisjon ( “Tilbudet”) (tegningskurs per aksje: NOK 6.70) som en del av restruktureringen av Selskapet (“Restruktureringen”),. Tegningsperioden starter i dag.

As previously announced, Sevan Marine ASA (“Sevan Marine” or the “Company”)  is planning to raise up to approximately NOK 141 million through an equity offering (the “Offering”) (per share subscription price: NOK 6.70) as contemplated by the terms of the restructuring of Sevan Marine (the “Restructuring”). The subscription period for the Offering commences today.

Mr. Kjetil Vangsnes has accepted the role as permanent CFO of Sevan Marine and will commence his engagement on January 01, 2012. Mr. Reese McNeel Interim CFO will step down from his position at that time. Mr. McNeel will continue to support the finance organisation of Sevan Marine post Mr. Vangsnæs’ appointment to ensure a smooth and orderly handover.

Today, December 2, 2011 will be the last day of trading in the shares of Sevan Marine inclusive of right to allocation rights (“Allocation Rights”) in the contemplated offering of new shares in Sevan Marine (the “Contemplated Offering”). For the purposes of determining shareholder’ eligibility, Sevan Marine will look solely to its shareholders register as of expiry of December 7, 2011 (the “Record Date”). For further details, please refer to previous announcement of December 1, 2011.

Reference is made to Sevan Marine ASA’s (“Sevan Marine” or the “Company”)  third quarter 2011 interim financial report published on November 09, 2011 (the “Third Quarter Report”). The Company has identified an error in the allocation of costs between continued and discontinued operations in the Third Quarter Report.

Reference is made to previous announcements in respect of the restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”) and the contemplated offering of new shares in the company for gross proceeds of up to approximately NOK 141 million (or approximately USD 25 million) (the “Contemplated Offering”).

Reference is made to previous announcements in respect of the restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”).

Teekay Service Holdings Cooperatief U.A., an affiliate of Teekay Corporation, has today subscribed and paid for new shares (the “Teekay Placement Shares”) in the Company for gross proceeds of approximately USD 25 million (or approximately NOK 141 million) (the “Teekay Placement”).

Reference is made to previous announcements in respect of the restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”). Sevan Marine is pleased to announce that it today closed the sale of FPSO Sevan Piranema and FPSO Sevan Hummingbird to Teekay and applied the associated proceeds from such sales to settle the “FRN Sevan Marine Senior Secured Callable Bond Issue 2007/2013”, ISIN NO 001 036696.6, Oslo Børs Trading Symbol “SEVAN 04” (the “Piranema Bond Loan”) and the “12.0/13.25% Sevan Marine Senior Secured Bond Issue 2010/2015”, ISIN NO 001 058295.0/001 058296.8 (the “Hummingbird Bond Loan”) in accordance with the terms of the Restructuring.

Reference is made to previous announcements in respect of the proposed restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”). Consummation of the first part of the Restructuring (“First Closing”) is currently scheduled to take place on November 30, 2011. Tomorrow, November 24, 2011, will be the last day of trading in the “FRN Sevan Marine.

Reference is made to previous announcements in respect of the proposed restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”). Consummation of the first parts of the Restructuring (“First Closing”) is currently scheduled to take place on November 30, 2011. Tomorrow, November 24, 2011, will be the last day of trading in the “FRN Sevan Marine Senior Secured Callable Bond Issue 2007/2013”, ISIN NO 001 036696.6, Oslo Børs Trading Symbol “SEVAN 04” (the “Piranema Bond Loan”, and the bonds constituted by such bond loan, the “Piranema Bonds”) with right to receive settlement pursuant to the terms of the restructuring (provided that First Closing occurs on November 30, 2011.

Reference is made to previous announcements in respect of the proposed restructuring (the “Restructuring”) of Sevan Marine ASA (“Sevan Marine” or the “Company”). Consummation of the first parts of the Restructuring (“First Closing”) is currently scheduled to take place on November 30, 2011.

Reference is made to the Bondholder Summons issued by Norsk Tillitsmann ASA (the “Bond Trustee”) on 24 October 2011, including the Bondholder Term Sheet appended as Appendix 1 to the Bondholder Summons, convening meetings of all of the following bonds (the "Bonds"), which were held on 10 November 2011:

Sevan Marine ASA has today on November 14, 2011, held an Extraordinary General Meeting.

Reference is made to the stock exchange notice of October 25, 2011 from Sevan Marine ASA ("Sevan Marine" or the "Company") with regards to a summons of October 24, 2011 (the "Summons") for bondholder meetings.

Please find attached the presentation materials for the presentation of the third quarter results to be given today.

The Company was pleased to announce on September 30, 2011 an agreement (the “Agreement”) for financial restructuring and industrial partnership with Teekay Corporation (“Teekay”). This agreement involves the sale of FPSO Sevan Voyageur, FPSO Sevan Piranema and FPSO Sevan Hummingbird (together the “FPSOs”) to Teekay, the raising of new equity in Sevan Marine and a restructuring of the Company’s indebtedness (together the “Teekay Transaction(s)”). The details of the Agreement were disclosed in the stock exchange notice dated October 18, 2011 (the “Notice”), which is available on the Company’s website (www.sevanmarine.com).

This is not an interim balance sheet of the consolidated Sevan Marine Group. The Q3 financial report for Sevan Marine Group will be release on November 9, 2011 as previously announced.

Reference is made to the notice for an Extraordinary General Meeting to be held on Monday November 14, 2011, at 17.00 p.m. (CET) at Thon Hotel Vika Atrium, Munkedamsveien 45, Oslo.

VP Finance, Birte Norheim, has decided to resign her position in Sevan Marine ASA to take on the role as Finance Director of Njord Gas Infrastructure AS in Stavanger. Effective from November 1, 2011, Reese McNeel (Interim CFO) will assume the role as IR-contact for Sevan Marine ASA.