SHARE OPTION PLANS (Tables)

12 Months Ended

Dec. 31, 2011

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of the option modification and of newly granted option awards is estimated on the date of grant or modification using a Black-Scholes option valuation model with the following assumptions:

	2011			2009
Risk free interest rate		1.35	%		1.35	%
Expected life	3.5 years			3.5 years
Expected volatility		62.27	%		61	%
Expected dividend yield		0	%		0	%

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

The following summarizes share option transactions related to the Frontline Scheme:

(in thousands)	Number of Options			Weighted Average Exercise Price
Options outstanding as of December 31, 2008		625.0		NOK 208.78
Granted		663.0		NOK 145.00
Forfeited		(7.0	)	NOK 205.42
Cancelled		(618.0	)	NOK 203.94
Options outstanding as of December 31, 2009		663.0		NOK 144.16
Exercised		(2.3	)	NOK 131.65
Forfeited		(10.0	)	NOK 133.71
Options outstanding as of December 31, 2010		650.7		NOK 131.65
Granted		145.0		NOK 131.10
Exercised		(6.7	)	NOK 132.71
Forfeited		(49.3	)	NOK 130.36
Options outstanding as of December 31, 2011		739.7		NOK 130.46

Exercisable options as at:
December 31, 2011		396.5		NOK 130.46
December 31, 2010		219.0		NOK 131.65
December 31, 2009	Nil			Nil

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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