MMEER Acquires Support Vessels from Nabors

Mike Mullen Energy Equipment Resources, Inc. thru a subsidiary, MMEER Cayman Ltd., has entered into a contract to purchase from Nabors the following service and accommodation units:

jackup NABORS 691 (previously named AHMED);
jackup NABORS 692 (previously named DEEMA);
liftboat NABORS 693 (previously named LEEN).

MMEER intends to conclude the purchase and take delivery of the units during May 2007. Until then Nabors will operate the units and all marketing for future work will be under the direction of MMEER.

The units are all located in the Middle East. After delivery, MMEER will operate the units and the units will trade under their previous names of AHMED, DEEMA, AND LEEN.

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