Ålesund, 27 July 2022:

With reference to the stock exchange announcements of 23 June, 15 July and 20
July, Golden Energy Offshore Services AS ("GEOS" / "the "Company) is pleased to
inform that the refinancing and closing of the transaction was completed today.
The Company has paid the balance payment to ROC against transfer of title to the
MPSVs Energy Empress and Energy Duchess and repaid the Bridge Loan. The Company
has also fully drawn the working capital facility under the Facilities Agreement
previously reported signed.

The Company has delivered the warrants resolved at the Extraordinary General
Meeting held 13 July 2022 to the respective warrant holders. The conditions for
the additional remuneration to the Company's board of directors resolved at the
Annual General Meeting held 10 June 2022 are also satisfied and it is expected
that the directors will shortly subscribe for the shares in the Company as
described in the minutes from the Annual General Meeting.

The Company will shortly summon an Extra Ordinary General Meeting to resolve a
supplement to the Board of Directors because the lender under the Facilities
Agreement shall have one member of the board of directors of GEOS.
 
Through the successful refinancing GEOS is now positioned for taking advantage
of the positive development of the offshore oil & gas and renewable market the
Company's four vessels are operating in. The Company will also actively seek
further growth opportunities with the backing of its strong financial partner
Oaktree. 


For further information please contact
 
Per Ivar Fagervoll 
CEO 

email pif@geoff.no 
Phone +47 97428884