PROSPECTOR OFFSHORE DRILLING SA PROSPECTOR 5
Luxembourg, 9 October 2014 - Prospector Offshore Drilling S.A. (the "Company" or "PROS") is pleased to announce that PROSPECTOR 1 is elevated on Total E&P UK Limited and ELF Exploration UK Limited's ("Total") Franklin location in the central North Sea and has commenced its two year drilling services contract.
In addition, the Company is pleased to announce that Total is installing their equipment on PROSPECTOR 5 and acceptance testing is ongoing. At this time the rig is being compensated at a reduced day rate before mobilizing to Total's first drilling location to begin its three year drilling services contract.
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. 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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