AWO Prospectus - COSL Drilling Europe AS

1.2 Financial information
Awilco Offshore ASA
Awilco Offshore was incorporated on 21 January 2005. A pro forma profit and loss account and and
balance sheet for 2004 is set out in section 7. The financial information is summarised below:
Figures in NOK million 1Q2005 1Q2004 2004
Actual Proforma Proforma
Profit and loss data
Revenues 45.1 34.9 270.7
Operating profit 0.3 1.8 72.5
Net profit / loss before tax -34.1 -10.5 89.2
Net profit / loss -23.1 62.7 -7.6
Per share data
Earnings per share -0.21 -0.12 1.03
Balance sheet data
Total fixed assets 983.7 541.4 717.1
Total current assets 880.4 119.5 200.7
Total assets 1,864.1 660.9 917.8
Total equity 1,223.1 30.5 269.5
Total long term liabilities 495.1 234.7 223.1
Total current liabilities 104.3 374.6 376.6
Total equity and liabilities 1,864.1 660.9 917.8
1.3 The Offering and listing
Shares offered Up to 3,000,000 new shares of Awilco Offshore ASA
Offer price NOK 22 per share
Gross proceeds NOK 66 million, assuming 3,000,000 shares
Share capital Before the Offering – NOK 1,111,333,500
After the Offering – up to NOK 1,141,333,500
Awilco ownership After the Offering – approximately 47%
Application period 3 – 10 May 2005
Allotment 10 May 2005
Payment / Settlement 13 May 2005
Expected first day of trading 11 May 2005
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