PROSPECTOR OFFSHORE DRILLING SA PROSPECTOR 5
Luxembourg, 8 September 2014 - Prospector Offshore Drilling S.A. (the "Company" or "PROS") is pleased to announce that Total E&P UK Limited and ELF Exploration UK Limited ("Total") has completed the preparation of the location for PROSPECTOR 1. Therefore, as of 5 September 2014 the rig is being compensated per its original contract at the mobilization rate.
In addition, the Company is pleased to announce that PROSPECTOR 5 has arrived in Invergordon, Scotland and is undergoing its acceptance process before mobilizing to Total's first drilling location to begin its three year charter contact.
This press release contains forward-looking statements that involve risks and uncertainties. You are cautioned not to put undue reliance on forward-looking statements because actual events and results may differ materially from the expected results described by such forward-looking statements. Prospector Offshore Drilling S.A. disclaims any obligation to update and revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
PROS is a high specification jack-up drilling contractor. PROS currently has two rigs within its fleet and contracts in place for the design, construction, and delivery of an additional three JU2000E high specification, harsh environment ("HS/HE") jack-up drilling rigs. PROS also has an option agreement for the construction of an additional rig of the same design. Upon deployment of its rigs, PROS, under its proven management team, will have the newest fleet of HS/HE jack-up rigs in the world, operating with the most advanced drilling systems available in the industry.
Contact:
Robert W. Rose
Chief Executive Officer Prospector Offshore Drilling S.A. Tel: +1 281 560 8012
Prospector Offshore Drilling S.A.
Société anonyme - 65, Boulevard Grande Duchesse Charlotte, L-1331 Luxembourg
Grand-Duchy of Luxembourg
R.C.S. Luxembourg B 153772
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