GEOS Commercial update and New Contract on Large Size PSV Energy Swan

GEOS Commercial update and New Contract on Large Size PSV Energy Swan

Issuer

Golden Energy Offshore Service

Ålesund 25th July 2024.

Golden Energy Offshore Services ASA ("GEOS") has entered into a new contract on
the Large Size PSV Energy Swan for 100 days firm plus 60 days options,
commencement will be September 2024 and vessel head out of North Sea. The vessel
has maintained 100% utilization YTD and with this contract rest of year are
covered. The contract is with first class international operator and rate
reflect market for large size PSV.

June 2024 Commercial update

So far, the summer season has been colored with low activity, large
availability, and day rates below expectations. GEOS has however had good
coverage and for June 2024 achieved time charter equivalent (TCE) earnings of
approximately USD 26 850 per day for the 7 vessels in operation. Fleet
utilization was 94,8.%

For further information please contact.

Per Ivar Fagervoll
CEO
email [email protected]
Phone +47 97428884

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