Scorpion Launches Keppel-Built Jackup

Scorpion Offshore Ltd. ("Scorpion") announced Saturday's launch of the Offshore Courageous, the first of its five rigs currently being constructed by Keppel AmFELS.< P> The Offshore Courageous is of the LeTourneau Super 116 class and is able to drill wells up to 30,000 ft deep in water depths up to 400 ft.

Jon C. Cole, President and Chief Executive Officer, said "Today's launch of the Offshore Courageous is a major milestone in the development of Scorpion Offshore. Thanks to the efforts of the entire Scorpion team, particularly our Brownsville construction office, as well as our shipyard, Keppel AmFELS, and our major suppliers, LeTourneau, National Oilwell Varco, Cameron and Lewco, we remain on track for an on time and on budget delivery. The Offshore Courageous will now undergo final outfitting and installation of the drilling equipment and remaining leg sections prior to the rig's delivery in May 2007."

Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.

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