Prospector Offshore Extends Option for Rigs Construction in China

Prospector Offshore Drilling S.A. announced today the Company has reached an agreement with Dalian Shipbuilding Industry Offshore Co., Ltd. (“DSIC Offshore”) to extend the expiry dates on two of its rig construction option agreements that were previously due o expire on 30 June 2013.

These rig construction option agreements , which were entered into on 2 April 2011, will now expire on 30 September 2013.

The Company also announced an agreement with Shanghai Waigaoqiao Shipbuilding Co., Ltd. (“SWS”)to extend the expiry date of its third and last remaining rig construction option agreement with SWS that was previously due to expire on 30 June 2013. The third outstanding rig construction option agreement (“Option Agreement No. 3”) entered into on 2 July 2011 will now expire on 30 December 2013.