Offshore Defender Receives Commitment

A subsidiary of Scorpion Offshore Ltd. has been selected as the successful bidder on a program with an expected firm duration of nineteen months. The Offshore Defender will mobilize to begin the contract immediately after its delivery on October 31, 2007. The estimated contract value to Scorpion is approximately USD 119 million, including mobilization and demobilization. It is anticipated that a firm contract will be signed within 45 days.

Following the delivery of the Offshore Courageous in May, the Offshore Defender is the second of Scorpion's five LeTourneau Super 116 ultra-premium jackups under construction at Keppel AmFELS shipyard in Brownsville, Texas. Scorpion has a sixth rig, a LeTourneau Super 116E, under construction at Lamprell in Dubai.

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