ENSCO Jackup Rig Suffers Damage From Hurricane Ivan

ENSCO 64 After Hurricane Ivan
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ENSCO International reports that one of the Company's jackup drilling rigs, ENSCO 64, was directly in the path of Hurricane Ivan and has sustained damage. The rig is now afloat in the U.S. Gulf of Mexico approximately 80 miles southeast of Venice, Louisiana. The rig was operating in Main Pass Block #280 for Dominion Exploration and Production Incorporated, and all personnel had been safely evacuated ahead of the storm. Appropriate regulatory agencies have been notified.

A report of visual inspection from a fixed-wing aircraft has indicated ENSCO 64 is floating approximately 40 miles south of its drilling location. Company personnel will be deployed to assess the extent of damage and determine appropriate remedial action to secure the rig as soon as practicable. The rig is insured for $65 million. Unless the rig is declared a total loss, ENSCO anticipates the cost of repairs will be recoverable in excess of policy deductibles which are limited to $5.5 million.

The Company also has received a preliminary report from a third-party of damage to the helideck on one of the Company's platform rigs, ENSCO 25, which was adjacent to the path of the storm. The Company has commenced inspection and re-boarding operations of its Gulf of Mexico rig fleet and is unaware of any further damage at this time.

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