Hercules Offshore Announces Three-Year Contracts for Jackup Rigs Hercules 258 and Hercules 260 in India

Hercules Offshore, Inc. announced today that Oil and Natural Gas Corporation Limited (ONGC) has awarded three-year contracts for the Hercules 258 and Hercules 260 jackup rigs for drilling operations offshore India. The contract for the Hercules 258 is expected to commence in mid-second quarter 2008 following the completion of an existing contract commitment offshore India. The contract for the Hercules 260 is expected to commence in late first quarter 2008 following the completion of shipyard work on the rig.