SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2012

Authorized, issued and outstanding common shares roll-forward is as follows:

All figures in USD ´000, except number of shares	Authorized Shares		Issued and Out- standing Shares		Common Stock
Balance as of December 31, 2009		51,200,000		42,204,904		422
Common Shares Issued in Follow-on Offering				4,600,000		46
Compensation – Restricted Shares				93,878		1
Balance as of December 31, 2010		51,200,000		46,898,782		469
Common Shares Issued, 2011 Equity Incentive Plan				400,000		4
Compensation – Restricted Shares				4,612		0
Increased authorized share capital		38,800,000				0
Balance as of December 31, 2011		90,000,000		47,303,394		473
Common Shares Issued in Follow-on Offering				5,500,000		55
Compensation – Restricted Shares				112,245		1
Balance as of December 31, 2012		90,000,000		52,915,639		529