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PROS - Announces extension of expiry dates for six outstanding rig construction option agreements

ID: 1183534
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(Thomson Reuters ONE) -



PROS - Announces extension of expiry dates for six outstanding rig construction
option agreements

Luxembourg, 31 December 2012:  Prospector Offshore Drilling S.A. (the "Company"
or "PROS") announced today an agreement with Dalian Shipbuilding Industry
Offshore Co., Ltd. ("DSIC Offshore") to extend the expiry dates on three of its
rig construction option agreements with DSIC Offshore that were previously due
to expire on 31 December 2012.  The first of these rig construction option
agreements ("Option Agreement No. 3") entered into on 19 June 2010 will now
expire on 31 March 2013.  The second rig construction option agreement ("New
Option Agreement No. 1") entered into on 2 April 2011 will now expire on 31
March 2013.  The third outstanding rig construction option agreement ("New
Option Agreement No. 2") entered into on 2 April 2011 will now expire on 31
March 2013.

The Company also announced an agreement with Shanghai Waigaoqiao Shipbuilding
Co., Ltd. ("SWS") to extend the expiry dates on three of its rig construction
option agreements with SWS that were previously due to expire on 31 December
2012. The first of these rig construction option agreements ("Option Agreement
No. 1") entered into on 2 July 2011 will now expire 30 June 2013. The second rig
construction option agreement ("New Option Agreement No. 2") entered into on 2
July 2011 will now expire on 30 June 2013. The third outstanding rig
construction option agreement ("Option Agreement No. 3") entered into on 2 July
2011 will now expire on 30 June 2013.


About the Company:
PROS is a high specification jack-up drilling contractor. 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, 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.

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.

Contact:
Steven A. Manz
Chief Financial Officer
Prospector Offshore Drilling S.A.
Tel: +1 281 560 8010



This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

PROS_Announces extension of expiry dates for construction options:
http://hugin.info/145297/R/1667661/541408.pdf



This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Prospector Offshore Drilling via Thomson Reuters ONE
[HUG#1667661]






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Date: 12/31/2012 - 15:58
Language: English
News-ID 1183534
Character count: 0
Kontakt-Informationen:
Firma: Prospector Offshore Drilling
Ansprechpartner: Feedback to businesspress24.com about Pressrelease-id:
Stadt: Luxembourg
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