The author recounts that Olaf called a thing on his farm to tell people about a dream he had had, in which a black bull that came through the country, killing a lot of people, and at last it killed Olaf's hird.
He therefore asked the people at the thing to make a great mound, where they could bury him after his death.
[2] The rest of the þáttr is about a man named Hrani, a foster brother of Harald Grenske, who was the father of St. Olaf.
Hrani had a dream where Olaf Geirstad-Alf came to him and told him that he should break into the mound and find a sword, a belt and a ring; he should bring these to a farm in Grenland in Viken, where Harald Grenske's wife, Åsta Gudbrandsdatter, was giving birth.
[3] The last chapter is about how Hrani carried out the instructions he had received in the dream: he broke into the mound, took out the three objects and went to the farm where his foster brother Harald and Åsta lived.