SOURCE: Vantage Drilling Company

September 01, 2009 13:17 ET

Vantage Drilling Company Announces Letter of Intent for Ultra-Premium Jackup

HOUSTON, TX--(Marketwire - September 1, 2009) - Vantage Drilling Company ("Vantage") (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) announced today the signing of a letter of intent for a drilling contract for one of its ultra-premium jackup rigs.

The award is for a four well program in West Africa with an estimated duration of five months commencing in December 2009. The operator will also have options for two additional wells. The estimated revenue over the initial term of the contract is approximately $17.3 million.

The Baker Marine Pacific Class 375 jackup rig is an independent leg, cantilever, non-harsh environment jackup with a drilling depth of approximately 30,000 feet and is capable of operating in water depths up to 375 feet.

The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements relate to estimated revenue and are subject to certain risks, uncertainties and assumptions disclosed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.

Contact Information

  • Public & Investor Relations Contact:
    Paul A. Bragg
    Chairman & Chief Executive Officer
    Vantage Drilling Company
    (281) 404-4700