Ålesund, 9 August 2023

Golden Energy Offshore Services (ticker: GEOS) (the "Company") refers to the
notice made 4 August 2023 announcing the fleet acquisition and the exercise of
warrants from Oaktree as part of the transaction financing.

As set out in the notice referred to above funds managed by Oaktree Capital
Management, L.P. ("Oaktree") has given notification to exercise their warrants
for 57,773,761 shares, where 4,000,000 of these are subject to funds managed by
Athos Capital Limited ("Athos") exercising all of their warrants for 4,000,000
shares within 30 days of Oaktree's notification.

Athos has now given notice of exercising all their warrants, Oaktree will
therefore in total have exercised warrants for 57,773,761 shares.

In order to facilitate the exercise of the warrants held by Oaktree and Athos,
the board of directors have in two resolutions resolved to issue 57,773,761 new
shares in the company to be subscribed for by Oaktree, and 4,000,000 new shares
to be subscribed for by Athos. The subscription price has been set to NOK 1 as
resolved by the extraordinary general meeting held 13 July 2022. Attached are
the board resolutions for the issuance of the new shares.

Following completion Oaktree will own 57,773,761 shares representing approx.
49.99 % of the total share capital, whilst Athos will own 4,000,000 shares
representing approx.3,5% of the total share capital. 

Following registration of the share capital increase in the Norwegian Register
of Business Enterprises the Company's share capital will be NOK 115,547,523
divided by 115,547,523 shares each at the nominal amount of NOK 1.

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. 

For further information contact: 
Per Ivar Fagervoll 
pif@geoff.no 
mobile + 47 974 28 884