SWS- POD - JUE 5-13

5/17/2013 12:00 AM

Friede & Goldman has entered into a licenseagreement with Shanghai Waigaoqiao Shipbuilding., Ltd.SWS (China) on May 17, 2013 for the basicdesign of two (2) F&G JU-2000E jack-up drillingrigs to be constructed for Prospetor Offshore.Prospector currently has two (2) JU-2000E underconstruction with SWS, and three (3) JU-2000Edesignes under construction with DSIC

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.