Hercules Offshore Buys More Shares in Discovery Offshore S.A.

Discovery Offshore S.A. announced today that Hercules Offshore Inc.  has on 8 August 2012 acquired 2,658,500 shares in Discovery Offshore at an average price of approximately NOK9.50 per share.

Following the acquisition, Hercules Offshore holds 21,012,834 shares in the Company, corresponding to 32.1% of the share capital. Two members of the Discovery Offshore Board are executives of Hercules Offshore. Discovery Offshore is a Luxembourg-based public limited liability company incorporated in January 2011 for the purpose of owning new ultra high specification jackup drilling rigs.

The Company’s main assets are two Keppel FELS Super A high specification harsh environment jackup rigs currently under construction, with delivery scheduled for the second quarter and fourth quarter of 2013, respectively.

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Press Release, August 9, 2012