Frétt hefk, at sá sótti
síðan malma stríðir
heim, þanns hjǫlp gefr aumum
harmskerðanda, ferðum.
Hér fekk hann — en byrja
hôtt kvæði skalk — bæði
snáka vangs of sløngvi
slungins mál ok tungu.
Frétt hefk, at sá stríðir malma síðan sótti heim harmskerðanda, þanns gefr hjǫlp aumum ferðum. Hér fekk hann bæði mál ok tungu; en skalk byrja hôtt kvæði of sløngvi vangs slungins snáka.
I have heard, that that enemy of weapons [WARRIOR = Kolbeinn] then sought the home of the harm-diminisher [SAINT = Óláfr], the one who gives help to wretched men. Here he received both speech and tongue; and I shall deliver an elevated poem about the distributor of the field of the coiled snake [GOLD > GENEROUS MAN].