Blake Offshore Awarded Long Term Contract for Blake 151

Blake Offshore, L.L.C. has been awarded a contract for the Blake 151 jackup by Energy Partners, Ltd. which is headquartered in New Orleans, La. The rig is located in Sabine Pass, Tx. and currently undergoing refurbishment and upgrading.

The Blake 151 is a 12 ft. minimum to 150 ft. maximum water depth independent leg cantilever jackup which will operate in the U.S. Gulf of Mexico. The Blake 151 will be reactivated and upgraded to meet EPL's needs for shallow water deep gas drilling. The reactivation should be complete July, 2006.

The Company signed a nine month term contract for the Blake 151 with contract revenues worth approximately $21.4 million. Energy Partners also has a six (6) month or twelve (12) month term option.

Blake Offshore, L.L.C. headquartered in Metairie, La. provides offshore drilling, completion and workover services as well as providing mobile offshore production units (MOPU). The company operates a diverse fleet consisting of 4 jackups, 3 mobile offshore production units and 1 self propelled, completion and workover jackup rig. Additional information about Blake Offshore, L.L.C. can be obtained at our website at www.blakeoffshore.com.

For all of your drilling, completion and workover services as well as mobile offshore production platform needs please contact Mike Blake at (504) 885-7449.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
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