DSIC - Prospector JUE 11-12

4/8/2011 12:00 AM

Friede & Goldman has entered into a licenseagreement with Dalian Shipbuilding IndustryOffshore Co., Ltd., DSIC Offshore, (China)on April 8, 2011 for the basic design of two(2) F&G JU-2000E jack-up drilling rigs to beconstructed for Prospector Offshore Drilling S.A.(Luxembourg). Prospector, who currently has(2) two JU-2000E jack-ups already underconstruction at DSIC, decided to exercise two ofthe three options from their previous contract withDSIC.

Additional agreements were signed for F&G toprovide their patented Rack Chock® leg fixationsystem and a 54-pinion hull elevatingjacking system for each of the mobile offshoredrilling units.

DSIC Offshore has successfully delivered six (6) JU-2000Ejack-up rigs to date. Now with four (4) currently under constructionfor Prospector and an additional two (2) being built for Seadrill (Norway),they are estimated to deliver six (6) more by the third quarter of 2013.

For further information, please refer to the Prospector Offshorewebsite:

http://hugin.info/145297/R/1502936/437889.pdf

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