Noble Jim Thompson Sustains Damage During Hurricane Ivan

Noble Corporation reported that its semisubmersible Noble Jim Thompson, contracted to BP America Production Company and on location offshore Louisiana at Mississippi Canyon block 383, was in the main path of Hurricane Ivan. The unit had been secured and all personnel safely evacuated prior to the storm's arrival. The unit broke away from its mooring lines and has moved to Mississippi Canyon block 656, approximately 30 miles southeast from its original location.

A Noble assessment crew of seven personnel safely boarded the unit by helicopter at approximately 10:00 a.m. on Friday and has restored power and operating capabilities. The Company reports that the unit is level and stable and that the assessment team has commenced surveying its condition. The only damage of a significant nature is reported to be the starboard crane boom, based on the initial preliminary survey.

One tug boat is in the process of securing the unit, and an anchor handling vessel is in route to assist. After towing lines establish connection with the unit, it will be towed to a shipyard in Mississippi to complete damage assessment and necessary repairs. The Company has not yet projected when the unit can return to operation. Additional information will be released after further survey of the unit's condition.

The Company reported that its other rigs operating in the Gulf of Mexico did not sustain material damages, based on preliminary reports, and are expected to return to operations in due course.