Smedvig will from time to time make direct investments in projects and companies where we see unique opportunities with a high return potential. When evaluating such investment we look for companies/partners with high quality management teams, a unique market opportunity and downside protection. Current investments are mainly within mining and energy. In 2011 we ventured into two new areas; eNavigation (NAVTOR) and date center development (Green Mountain Data Center). We intend to further develop our direct investments in the years to come, both with episodic/opportunistic and more strategic investments.