Ålesund, 30 June 2025
Reference is made to the notice from Golden Energy Offshore Services ASA (“GEOS” or the “Company”) on 4 June 2025 and is pleased to announce that it has today (i) entered into a new USD 95,000,000 sale and leaseback facility for its seven vessel fleet with Neptune Maritime Leasing (the “Facility”) and (ii) drawn the tranches available under the Facility for each of the vessels Energy Duchess, Energy Empress, Energy Pace, Energy Passion, Energy Partner and Energy Paradise (the “Initial Vessels”) (thus having completed the full refinancing of the Initial Vessels). The refinancing of the remaining vessel is expected to be completed in July 2025.
As previously communicated, the Facility is on commercially desirable terms, allowing the GEOS’s group of shareholder value creation by lowering GEOS’s financing costs, building cash, and positioning GEOS for additional growth
- Management and the board of directors strongly believe that this refinancing is a major step forward in strengthening GEOS’ position within the offshore industry, and we’re all very pleased to have been able to complete the transaction. Additionally, Neptune Maritime Leasing, as a first-class financier, with its robust financial platform and in-depth knowledge of the maritime industry, is seen as the ideal partner for GEOS in this development, says CEO Per Ivar Fagervoll.
About GEOS
GEOS ASA is an offshore service company based in Ålesund, Norway. The Company operates supply and service vessels to the offshore industry. The Company fleet is used within the Oil & Gas and Renewable Offshore industry. The Company is listed on Euronext Growth in Oslo Stock Exchange under the ticker “GEOS”. To learn more, please visit www.geoff.no/investors-geos.
Contact
For further information, please contact:
Per Ivar Fagervoll,
Chief Executive Officer
+47 97 42 88 84
pif@geoff.no