Umoe Mandal has Norway's military as a client, and the Norwegian navy will buy a total of six of the stealth "Skjold" (Shield) speed boats by 2008.

Now billionaire Jens Ulltveit-Moe hopes that the SEALs interest in the swift stealth vessels will also lead to a future sales contract.

"The Norwegian "Skjold" boat was on loan for a year's testing by special forces after Sept. 11, 2001. Our marketing goes all the way back to that time," said Umoe Mandal CEO Peter Klemsdal.

Now the shipyard has secured a study deal where the Navy SEALs will evaluate how the "Skjold" craft can meet American needs.

"They don't want heavy weapons on it, they want to use it as a stealth transport vessel. It will probably carry soldiers in to a coast under the cover of darkness. They can do what they came for and get back out," Klemsdal said.

Klemsdal remains calm about the study deal.

"We are doing well when they are interested enough to pay us to be there. This is great but there is still a long way to go," Klemsdal said.

A possible deal with the SEALs is likely to mean a huge breakthrough for the yard. Since the SEALs can in principle be operative anywhere in the world it is likely that they would need 8-10 stealth vessels. The contract with Norway's military for six ships is worth NOK 2 billion.

In the event of a contract Umoe Mandal is ready to buy into a small shipyard in the USA to meet political pressure for national participation in military projects.