Patriot Wins $12.4 Million Order from Keppel FELS

Global Marine Energy says that its US-based subsidiary, Patriot Mechanical Handling Inc, has received an order valued at US$12.4 million from Keppel FELS in Singapore.

The order is for 2 rig sets, comprising a complete mechanical handling package, for new build semisubmersibles currently on order to Keppel FELS from ENSCO International, Inc. The order calls for Patriot to deliver a Riser Gantry crane, marine deck cranes, BOP Handling, and tree handling systems, and to provide training, spare parts and commissioning services. Delivery is scheduled for Q2 2007 for the first rig set, and H2 2008 for the second.

Paul Findlay, President and CEO of PMH, stated:
"This order is extremely significant in that we are to provide a complete package for all handling operations on and around the rigs. This order exemplifies and reinforces our strategy of pushing the complete packaging of our equipment for mechanical handling solutions to the offshore drilling industry.

"We are now aligned with the offerings of other companies in our industry. Combined with our streamlined operational structure, this product offering gives us the ability to be a strong competitor."

Philip Wood, Executive Chairman, Global Marine Energy added:
"We are very pleased to have the opportunity to work with Keppel FELS again, and to have put together a package to meet their total mechanical handling equipment needs. This is very important for GME and bodes well for the future, and although it will not impact on the current financial year it opens up new market opportunities which we are confident that we can exploit."