Patriot Mechanical Handling Wins Three Orders Valued at $31 Million

Patriot Mechanical Handling has won three orders with a total value in excess of US$31 million, from Keppel FELS Limited in Singapore and Queiroz Galvao Perfuracoes S.A. and Petrobras in Brazil.

A US$7.8 million order is for one mechanical handling package, for the Ensco 8502 ultra-deepwater semisubmersible currently on order to Keppel FELS Limited from ENSCO International, Inc. The order calls for Patriot to deliver, during 2007/08, a riser gantry crane, king post deck cranes, BOP handling, and tree handling systems, and to provide training, spare parts and commissioning services.

The order from Star International Drilling Ltd., the Brazilian subsidiary of Queiroz Galvao Perfuracoes S.A., is valued in excess of $20 million with delivery in 2008/9. The order is for one mechanical handling rig set, including but not limited to: Vertical Racking System, fingerboards, Iron Roughneck, drillfloor winches, BOP crane and transporter, tree carrier, king post deck cranes, riser gantry crane, catwalk machine and derrick. This equipment will be used in the upgrade of the Olinda Star semi-submersible that is to be carried out by Keppel FELS Brazil.

The Petrobras order totals US$3.8 million and is for the supply of 2 marine king post deck cranes for the P-14 platform. Delivery is scheduled for Q4-2007.

Paul Findlay, Group CEO of Global Marine Energy PLC, commented, "Ensco's decision to chose Patriot to supply the rig package, on this third newbuild rig of the 8500(TM)series, is based on the quality of our equipment and our levels of service. This is an important relationship for our Company and is indicative of Patriot's commitment to its customers.

"The order from Queiroz Galvao Perfuracoes S.A. is the single largest order ever received by Patriot and it underscores the market's confidence in Patriot's ability to manage and deliver larger packages. This order and the order from Petrobras, the world leader in deepwater exploration and production, further reinforce our presence in the Brazilian market and are a testament to our ability to meet the demanding technical, safety and delivery requirements of large operators.

"We will continue to look to build similar strong relationships with other major drilling contractors."


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