Scorpion Offshore: Change to Board of Directors

Mr. Erland Bassoe and Mr. Jonathan Fairbanks, co-founders of Scorpion Offshore, have elected to retire from the Scorpion Board effective July 2, 2007. Scorpion and Bassoe Offshore will continue to work together and cooperate on offshore drilling projects through a consulting and brokerage agreement that was entered into on September 1, 2005. This will insure that Scorpion receives priority information and advice from Bassoe Offshore as Scorpion independently plans and delivers strategic growth objectives and will permit the Bassoe companies and Scorpion to expand their business interests while improving both flexibility and transparency. Scorpion is deeply appreciative of Mr. Bassoe's and Mr. Fairbanks' past contribution toward the founding and growth of Scorpion, and welcomes their continuing insight into a rapidly expanding offshore drilling market.

In anticipation of this development, Scorpion has been recruiting independent outside directors and will welcome Mr. Pat Herbert to its Board effective August 1, 2007. Mr. Herbert is currently Chief Executive Officer of JDR Cable Systems Ltd, a global leader in the design and manufacture of custom-engineered, specialty cable systems used in the oil and gas and defense industries. JDR Cable Systems is a private company with manufacturing plants in England, Holland, and Thailand and has a service center in Houston. Mr. Herbert is a veteran of over 30 years in the oil industry and is particularly deep in service sector experience. Prior to JDR Cable Systems, he served as an executive of Baker Hughes as well as Chairman and CEO of International Energy Services and Geonet Energy Services. He currently serves on the board of Blast Energy Services, and as an advisory board member of Validus International and Space Data International. Pat received an MBA from Pepperdine University and a BSE from California State University Northridge.