Prospector Offshore Keeps its Options Open

Prospector Offshore Drilling agrees with two Chinese shipyards to extend options on 6 rig construction agreements.

An agreement with Dalian Shipbuilding Industry Offshore Co. extends the expiry dates on three of its rig construction option agreements with DSIC Offshore that were previously due to expire on 31 December 2012 have been extended until 31, March 2013.

Another agreement with Shanghai Waigaoqiao Shipbuilding Co. extends he expiry dates on three of its rig construction option agreements with SWS that were previously due to expire on 31 December 2012, until 30, June 2013.

Prospector Offshore Drilling (PROS) currently has contracts in place for the design, construction and delivery of four F&G JU2000E high specification, harsh environment (HS/HE) jack-up drilling rigs. The Company's first rig is scheduled for delivery commencing in the first quarter of 2013.

PROS also has option agreements for the construction of six additional rigs of the same design

Upon deployment of its rigs, PROS says it 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.