Paul Romano News

Fairmount Marine’s tug Fairmount Sherpa has towed the semi-submersible drilling rig Noble Paul Romano from the Gulf of Mexico to Egypt. The tow was over a distance of close to 8,000 miles. When contracted by Noble Drilling the Fairmount Sherpa just has completed the installation of FPSO Skarv, offshore Norway. Fairmount Sherpa was mobilized first to Rotterdam for supplies and bunkers before it sailed to Jamaica for a rendez-vous with Noble Paul Romano, which was all ready under tow by tug Svitzer Rotterdam. Offshore Jamaica Fairmount Sherpa hooked up the tow and the convoy set sail for San Juan, Puerto Rico, for bunkers. After the successful crossing of the North Atlantic the convoy safely arrived at Las Palmas, Canary Islands, for a next bunker stop.

Noble Corporation reported 4Q 2007 earnings of $347.4 million, or $1.29 per diluted share, versus $199.7 million, or $0.74 per diluted share, for the fourth quarter of 2006. Per-share earnings were up 74 percent from the fourth quarter of 2006 and up nine percent from the $1.18 per share reported for the third quarter of 2007. Earnings for the full year 2007 totaled $4.48 per diluted share compared with $2.66 per diluted share in 2006 (split adjusted). The results for the 2007 fourth quarter include a net after-tax charge of $0.06 per share related to the previously reported fire aboard the drillship Noble Roger Eason and costs associated with the ongoing independent investigation of the Company's Nigerian operations, offset by an insurance recovery on our 2005 Hurricane claims.

Noble Drilling Corporation announced its fifth successful EVA-4000TM semisubmersible conversion, Noble Max Smith, commenced its mobilization to its first location in Alaminos Canyon for Amerada Hess Corporation. The unit, capable of drilling in water depths up to 6,000 ft., will undergo final commissioning of its marine systems when it arrives on location. Upon completion of commissioning, the rig will commence drilling operations under its contract with Amerada Hess Corporation. The conversion of Noble Max Smith was completed in 14 months, which was approximately eight months faster than the first EVA-4000TM semisubmersible conversion, Noble Paul Romano. Additionally, the estimated total conversion cost is anticipated to be approximately four percent below the construction budget.

prior to the storm's arrival and that all the company's units in the U.S. of Mexico have been secured. from their mooring lines as Hurricane Rita passed. system (GPS) technology installed onboard each of the units. their original locations. for preliminary evaluations of condition. Noble Joe Alford moved approximately 8 miles off its original location. winch. technology onboard. members below the hull. repairs, of the other units without taking them to a shipyard. Texas, and Pascagoula, Mississippi. to conduct further surveys. in delays in returning units to operational status. schedules to return the units to operational status. will be released after further survey of the condition of the units.