Energy Equipment Resource Sells Jackup

Mike Mullen Energy Equipment Resource, Inc. of Dallas, Texas (MMEERI) has sold the jackup drilling rig Odin Star to Nabors International Drilling, Ltd.

The Odin Star is a cantilevered workover jackup rated for drilling in water depths up to 160 feet. The rig was built at the Far East Levingston Shipyard in Singapore in 1980.

The sale of the Odin Star is the third sale and purchase transaction concluded by MMEERI in 2001. MMEERI have contracted to purchase another jackup during June 2001 making them the most active company in the offshore drilling sale and purchase market.

Normarine Offshore Consultants acted as broker in this transaction.