Blake's Chairman Sells Stake in Company, Waves Good-Bye to Board

Blake International USA Rigs, LLC of Houma, Louisiana announced that its Chairman of the Board, Michael E. Blake, has sold his ownership interests in Blake Offshore Holdings, parent company of Blake Offshore, along with Blake Drilling and Workover's interest in Blake Offshore to Avista Capital Partners. Mr. Blake has resigned from the Blake Offshore Board of Directors, along with his wife Ramona Blake and his son Michael E. Blake, Jr.

Mr. Blake will focus all of his attention on growing his newly acquired platform drilling company that he purchased from Pride International in mid 2008.

Blake International USA Rigs, LLC owns and operates platform drilling and workover rigs in the United States Gulf of Mexico and offshore Mexico, and remains the only privately-held offshore platform rig provider in the United States.


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