Lamprell Confirms Contract for Newbuild Jackup

Lamprell reports that the contract for the construction of a LeTourneau Super 116E jackup drilling rig has now been confirmed following Scorpion's successful fund raising.

Construction work on the new build rig will commence immediately and delivery of the rig is expected in early 2009.

Commenting on this contract award Chairman and Chief Executive Officer, Peter Whitbread, said:

"We are very excited about this project and delighted to be able to build on our extensive jackup rig refurbishment experience and start work on our first new build jackup rig. We look forward to working with Scorpion on this and future projects."

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