Omaneftir og niðaneftir
Omaneftir Vallaratúni
Har fór hestur mìn tann brúni
omaneftir vallartùni

Tróndur droymdi dreymarnar
Segði teir ei for mørgum
Tókti mær sum Noregs kongur
Stýrdi grimum vørgum

Tróndur droymdi dreymarnar
Segði teir ikki smærri
Tókti mær sum siglitrø
Tey gingu fjøllum hærri

Svaraði Sjúrður Tollaksson:
"Vær gevum ei slíkt í geyma,
verturnáttin er so long,
at mangt kann bera í dreyma."

Brandi brá of mælti svá:
"Hilmar undan leypa.
Eg skal standa eftir ein
lív mítt dýrt at keypa."

Omaneftir og niðaneftir
Smaneftir Vallaratúni
Har fór hestur mìn tann brúni
Smaneftir vallartùni

[English translation:]

Up and down
Up the wanderers yard
There went my horse, the brown one
Down the wanderers yard

Tróndur dreamt the dreams
Said them not to many:
"Methought that the king of Norway
steered grim wargs."

Tróndur dreamt the dreams
Said them not to many:
"Methought that masts
stood higher than mountains."

Answered Sjùrður Tollaksson:
"We heed not such things,
The winternight is so long,
that many things may come to dreams."

Swung his sword and spoke thus:
"Chieftains run away.
I shall remain alone
my life life dearly bought."

Up and down
Up the wanderers yard
There went my horse, the brown one
Down the wanderers yard