Nexus Floating Prod : Summons to Bondholders Meeting

Nexus Floating Production Ltd. : Summons to Bondholders Meeting

Nexus Floating Production Limited has issued a summons to a bondholders meeting
to be held 30 December 2011 at 12:00 CET.

In the summons the bondholders in the USD 37,956,000 Nexus Floating Production
Ltd Residual Bond Issue Number one and the bondholders in the USD 29,069,000
Nexus Floating Production Ltd Residual Bond Issue number two are requested to
terminate their rights under the loan agreements and accept a conditional
payment agreement of USD 15,000,000.

The Residual Loans mature on 7 March 2012 when the full aggregate outstanding
amounts under the Loan Agreements in the aggregate amount of USD 67,025,000 will
fall due for repayment to the Bondholders.

The construction contract (the "Nexus #2 Contract") entered into with Samsung
Heavy Industries for the construction of Nexus #2 has been suspended and the
deferral period ends on 28 February 2012.

The Company is now proposing a solution whereby the Bondholders in the two
Residual Loans agree to a termination of the Loan Agreements, and that they
waive their rights to be paid principle and interest under the Loan Agreements,
in exchange for a conditional payment agreement related to the restart of the
deferred Nexus #2 Contract. It is proposed that under the arrangement each of
the Bondholders will receive a payment proportional to their Bondholding,
conditional on the Nexus #2 Contract being restarted, or the rights and benefits
under the Nexus #2 Contract being transferred to a third party, in circumstances
as described in the proposed Agreement for Conditional Payment.

For further information, please contact

Arild Bårdsen, CFO, [e-mail], [phone]

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