 Hermitage Offshore Services Ltd. the Company announced today that it has agreed to enter into a new common stock purchase agreement with Scorpio Services Holding Limited SSH for 15 million the New Equity Line of Credit. Consequently, the lenders under the Companys Initial Credit Facility defined below have agreed that the entrance into the New Equity Line of Credit will satisfy the condition precedent for a new 132.9 million credit facility, the proceeds of which will be used to refinance the Initial Credit Facility. Additionally, the lender under the Companys DVB Credit Facility has agreed that the New Equity Line of Credit also will satisfy the condition that the Company raise an additional 15 million of equity. 