Vantage Drilling 8-K Some of the statements in this presentation constitute forward-looking statements. Forward-looking statements relate to

Pareto Securities

Oil & Offshore Conference 2011

August 31, 2011

Exhibit 99.1

Some of the statements in this presentation constitute forward-looking statements.  Forward-looking statements relate to

expectations,

beliefs,

projections,

future

plans

and

strategies,

anticipated

events

or

trends

and

similar

expressions

concerning matters that are not historical facts.  The forward looking statements contained in this presentation involve risks

and uncertainties as well as statements as to:

•

our limited operating history;

•

availability of investment opportunities;

•

general volatility of the market price of our securities;

•

changes in our business strategy;

•

our ability to consummate an appropriate investment opportunity within given time constraints;

•

availability of qualified personnel;

•

changes in our industry, interest rates, the debt securities markets or the general economy;

•

changes in governmental, tax and environmental regulations and similar matters;

•

changes in generally accepted accounting principles by standard-setting bodies; and

•

the degree and nature of our competition.

The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking

into account all information currently available to us.  These beliefs, assumptions and expectations can change as a result

of many possible events or factors, not all of which are known to us or are within our control.  If a change occurs, our

business, financial condition, liquidity and results of operations may vary materially from those expressed in our forward-

looking statements.

Forward-Looking Statements

2

Symbol:

VTG (NYSE AMEX)

Location:

HQ

–

Houston;

Operations

–

Singapore;

Marketing

–

Dubai

Market Cap:

$366.2 million

Book Value:

$713.8 million

Enterprise Value:

$1.52 billion

Employees:

> 700

Contract Backlog:

$3.0 billion, including rigs under management

Owned Fleet:

4 Ultra-Premium Jackups

1 Ultra-Deepwater Drillship

1 Ultra-Deepwater Drillship under construction

Managed Fleet:

4 Ultra-Deepwater Drillships under construction

Corporate Overview

3

Platinum

Explorer

commenced

operations

with

ONGC

on

December

29,

2010,

and

achieves

impressive utilization –

First

6

months

of

operation

–

91%

efficiency

June

2011

–

99.77%

July

2011

–

93.5%

Construction Management Agreements with Aker Drilling for two drillships under construction at DSME

High-specification jackup market experiencing upward momentum in rates with continued high

utilization

Recent Developments

4

Expanded deepwater fleet with order of newbuild drillship Tungsten Explorer for Q2 2013 delivery.

Raised ~ $240.0 million with “tack-on” bond offering to refinance term loan and fund drillship down

payment.

November 15, 2010  - Took delivery of Platinum Explorer – on-time, on budget

Awarded high-profile jackup contract for ultra-HPHT work in Malaysia @ $187,000 per day

(inclusive of reimbursed upgrades); 14-21 month duration

Awarded 18 month contract for Emerald Driller in Thailand.

•

Capable of operating in water depths up to 12,000 ft

•

Total vertical drilling depth of 40,000 ft

•

Variable deck load of 20,000 tons

•

Hull measurement of 781 ft long by 137 ft wide

•

DP3 dynamic positioning system

•

1250 short ton hook load, including 9000 hp drawworks

•

Offline pipe handling

•

Trip saver system

•

Accommodations for 200 personnel

•

Delivery Q2 2013

Tungsten Explorer

5

Premium high-specification drilling units, including four jackup rigs and three drillships

Vantage’s modern rigs are capable of drilling to deeper depths and possess enhanced operational

efficiency and technical capabilities, resulting in higher utilization, dayrates and margins

Total

costs

of

owned

fleet

of

four

jackups

and

the

Platinum

Explorer

drillship

of

approximately       

$1.7 billion

Premium Fleet

Successful

track

record

of

managing,

constructing,

marketing

and

operating

offshore

drilling

units

In-house team of engineers and construction personnel overseeing complex construction projects

All jackups delivered on budget and on time

Jackup fleet has experienced approx. 99% of productive time for Vantage’s first 31 months in operation

Level of efficiency is exceptional for newly-constructed jackup rigs upon commencement of operations

Proven Operational

Track

Record

Significant cash flow visibility

Owned fleet contract backlog of approximately $1.2 billion and managed fleet contract backlog of

approximately $1.8 billion

Owned

fleet

counterparties

include

Total,

Pearl

Energy,

Bowleven,

Foxtrot

International,

Phu

Quy

(1)

,

Salamander,

PTT,

Petronas

Carigali

and

ONGC

Managed deepwater rigs counterparties include Petrobras

Significant

Contract Coverage

with

High Quality

Counterparties

(1)

PVEP Phu Quy Petroleum Operating Co. Ltd. is a joint venture interest between PetroVietnam Exploration Production Corp. and Total E&P Vietnam.

Company Highlights

6

Construction management arrangements for four ultra-deepwater drillships, DragonQuest, Dalian

Developer, Aker Drilling 1 & 2

Management of DragonQuest once in service

Approximately $12.0 to $15.0 million per year for the duration of the contract

Management team with extensive experience; average of 28 years in the drilling industry

Includes international and domestic public company experience with industry-leading peers involving

numerous acquisitions and debt and equity financings

Experienced operating personnel

Construction

Supervision and

Management

Arrangements

Experienced

Management and

Operational Team

Company Highlights (Cont’d)

7

Completed Projects

4 BMC 375 Jackups

Platinum Explorer

Current Projects

Dalian Developer

Dragonquest

Aker Drillships 1&2

SeaDragon 1 & 2

Delivered On-Time, On Budget

November 2010

Restructured construction project

with Vantage designed remediation

plan and implemented project

controls.  Project completed for

customer as rigs sold to competitor.

•

Project 99% complete

•

2

nd

Successful

newbuild

at

DSME

•

Hired by Financial Institution to provide

shipyard oversight following bid process

•

Largest drillship in the world currently

under construction

•

Vessel will include oil storage and multi-

purpose capabilities

•

Hired by peer drilling company to

manage shipyard oversight

•

Leverages our strong relationship and

extensive experience with DSME

Tungsten Explorer

•

Company owned newbuild project

•

Leverages shipyard experience

•

Favorable costs and delivery schedule

Singapore Operations and Technical Support –

Track Record of Excellence

8

•

EmeraldDriller – December 2008

•

SapphireDriller – July 2009

•

AquamarineDriller – September 2009

•

TopazDriller – December 2009

All Delivered On-Time, On Budget –

Vantage Offices

Owned Rigs

Managed Rigs

Contract: Petrobras

DragonQuest

U.S. GOM

Contract: ONGC

Platinum Explorer

India

Houston

Singapore

Dubai

Contract: PTT

Emerald Driller

Thailand

Aquamarine Driller

Contract: Salamander

Vietnam

Contract: Petronas

Carigaili

Malaysia

Topaz Driller

Contract: Phu Quy

(1)

Vietnam

Contract: Total

Malaysia

Country of Operation

(1)

PVEP Phu Quy Petroleum Operating Co. Ltd. is a joint venture interest between PetroVietnam Exploration Production Corp. and Total E&P Vietnam.

Sapphire Driller

Contract: Eurail

Cameroon

Contract: Foxtrot

Ivory Coast

Worldwide Operations

9

Strong Customer Relationships

Key Customers

10

World class assets achieving world class performance –

–

Fleet productive time approximately 99% since inception

–

High-specification jackup fleet meeting today’s challenges:

•

Faster drilling times

•

Faster moving times

•

Increased volumes of consumable liquids and

drilling fluids

•

Reduced boat runs and non-productive time

•

Improved pipe handling and offline capability

•

Fast preloading time for all tanks

•

75’

x 30’

cantilever reach substantially greater

than the industry average

•

Pipe decks allow increased storage capacity

•

Premium drilling package:

•

3 x 2200HP mud pumps

•

Integrated diverter system

•

18 ¾

BOP handling system and 4 rams

•

High-capacity, high efficiency –

5 x CAT 3516 B

Diesel engines

Emerald Driller

Sapphire Driller

Aquamarine Driller

Strong Financial Performance

Jackup Fleet

11

2 years at $171,000

Ownership

2010

2011

2012

Rig

%

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Jackups

Emerald Driller

100%

2 yrs. at $171K

$132K

18 mos. at $130K

Sapphire Driller

100%

10 mos. at $115.5K

4 mos. at $120K

1 yr at $120K

Aquamarine Driller

100%

5 mos. at $154.2K

10 mos. at $120K

(2)

$124K

2 wells at $137K

1 year + 1 year option

Topaz Driller

100%

10 mos. at $107.2K

14 mos. At $187K (including upgrade & mob.)

Drillships

Platinum Explorer

100%

5 yrs. at $590.5K

DragonQuest

Managed

8 yrs. at $551.3K

(3)

Construction

Commissioning/

Working

Operating

Option

Letter

Management

Mobilization/

(Owned Rigs)

(Management

Contract

of

Contract

Shipyard

Contract)

Intent

Fleet Status –

Average

Drilling

Revenue/Day

(1)

12

Average

drilling

revenue

per

day

is

based

on

the

total

estimated

revenue

divided

by

the

minimum

number

of

days

committed

in

a

contract.

Unless

otherwise

noted,

the

total

revenue

includes

any

mobilization

and

demobilization fees and other contractual revenues associated with the drilling services.

The

contract

is

for

drilling

two

wells

plus

extended

well

tests.

Estimated

drilling

time

is

one

month

per

well

and

extended

well

tests

could

range

from

a

few

months

to

up

to

one

year

per

well.

The

first

extended

well

tests period has been contracted through April 2011.

The drilling revenue per day includes the achievement of the 12.5 % bonus opportunity, but excludes mobilization revenues and revenue escalations included in the contract.

(1)

(2)

(3)

•

Premium jackups (350’

+ IC rigs)

and ultra-deepwater  floater have

historically maintained

significantly higher utilization

levels, particularly during

downturns in the energy industry

–

A higher utilization level in the

international drilling market

continues to reflect a more stable

rig supply and demand

environment than the Gulf of

Mexico

–

Operators are willing to pay a

substantial dayrate premium for

high-specification rigs

Global Jackup Utilization

International vs. GOM Jackup Utilization

Source: Riglogix; ODS-PetroData.

Historical Floater Dayrates ($Thousands)

Historical Floater Utilization

Premium Asset Advantage

13

–

Operators demand newer, higher

specification rigs due to superior

operating performance, resulting in

lower maintenance downtimes,

improved safety and higher

efficiency

•

Capabilities

and

age

–

The

current

worldwide

fleet

is

comprised

mostly

of

older,

inefficient

rigs

–

27% of today’s jackups are mat-supported and/or have less than 200ft of water depth capability

–

70% of today’s jackups are 25 years or older

–

As of February 2011 a total of 134 rigs were either ready stacked, cold stacked, or in an accommodation mode without contract

–

How many will not return to service?

•

Setting

up

cyclical

recovery

–

Reduction

in

the

overall

fleet

should

result

in

pricing

power

and

high

utilization

levels early on during the recovery

•

Age

is

a

factor

–

Demand

is

increasing

for

high-specification

jackups.

Many

customers

are

implementing age

restrictions and new high-specification characteristics

Source: ODS-Petrodata

Global Jackup Fleet Distribution

Age

Rigs

%

%

300+

200-299

<200

25 years or older

331

69%

61%

150

126

55

5 to 24 years

52

11%

10%

48

3

1

0 to 4 years

94

20%

17%

84

4

6

477

100%

282

133

62

2011 Deliveries

15

3%

13

2

0

2012 Deliveries

22

4%

19

3

0

2013 Deliveries

30

6%

29

1

0

544

100%

343

139

62

Age of Jackup Fleet

Water Depth (feet)

Profile of Global Jackup Fleet

14

Ultra-Deepwater Rig Supply is Increasing Significantly

Deepwater Exploration is a Young, Rapidly Growing Market

Demand is Likely to Exceed Rig Supply Despite Newbuilds

Source: ODS-Petrodata, DnB NOR

Global Deepwater Market

15

Balance Sheet

($Millions)

Financial Overview

16

December 31,

June 30,

2010

2011

Cash and cash equivalents

120.4

$              

114.5

$              

Restricted cash

29.0

6.2

Trade receivables

50.2

86.5

Inventory

19.8

22.2

Prepaid expenses and other current assets

11.5

7.3

230.9

236.7

Property and equipment, net

1,718.1

1,803.4

Investment in joint venture

-

-

Other assets

54.2

58.7

2,003.2

$          

2,098.8

$          

Accounts payable and accrued liabilities

107.5

$              

126.6

$              

Short-term debt

8.6

3.4

Current maturities of long-term debt

-

-

116.1

130.0

Long–term debt

1,103.5

1,242.5

Other long term liabilities

13.5

12.4

Shareholders' Equity

Paid-in capital

854.8

857.3

Retained Earnings

(84.7)

(143.4)

Accumulated other comprehensive loss

-

-

Total shareholders’

equity

770.2

713.8

2,003.2

$          

2,098.8

$          

Outstanding shares

289.7

290.7

Book value per share

2.66

$                 

2.46

$                 

•

No near-term maturities provides

flexibility

•

Excess cash flow offers

opportunity; alternatively we can

buy bonds in the market with

excess cash

•

First call option February 2013

Debt Repayment

17

Run-Rate Financial Potential of Vantage Owned Assets

($Millions, except dayrates)

(1)

Calculations of rig-level EBITDA incorporate management's assumption of 90% utilization/efficiency of jackups, which reflects industry standard productive times on high-specification jackups.

Utilization/efficiency of drillship assumed to be 97%, which management believes is a reasonable assumption for a newbuild vessel in its first full year of operations. Rig-level EBITDA

attributable to jackups reflects direct operating expense assumption based on Vantage’s jackups that operated for the full first quarter of 2011.

(2)

EBITDA

/

Total

debt

includes

the

“tack-on”

bond

issuance

in

Q2

2011

Illustrative Range of Run-Rate Financial Potential

•

Strong cash flow backlog to cover

debt service

•

Leveraged to upturn in high-

specification jackup market

Financial Overview

18

EBITDA

Low

6.5x

Today’s

Peer Avg.

8.5

Historical

Peer Avg.

11.6x

$250 million

$1.72

$3.44

$6.11

$300 million

$2.84

$4.90

$8.10

$350 million

$3.96

$6.36

$10.10

Implied Values –

EV/EBITDA

Source: Jefferies

Price to Book Value

Key Drivers Near Term –

•

Achieve high productive time on Platinum Explorer

•

Improving dayrate contract fixtures on jackups

19

Significant Upside Valuation Potential

Historical Financial Information

($ Millions)

Financial Overview

20

$14.3

$22.2

$36.4

$38.6

$58.3

$68.4

$66.9

$84.9

$124.6

$120.9

$6.4

$9.5

$14.2

$5.0

$25.3

$24.6

$21.3

$16.9

$42.8

$48.2

$0.0

$20.0

$40.0

$60.0

$80.0

$100.0

$120.0

$140.0

3/31/2009

6/30/2009

9/30/2009

12/31/2009

3/31/2010

6/30/2010

9/30/2010

12/31/2010

3/31/2011

6/30/2011

Quarter Ended

Revenue

Adjusted EBITDA

Reconciliation of Net Income (Loss) to Adjusted EBITDA

($Millions)

Appendix

21

6/30/2009

9/30/2009

12/31/2009

3/31/2010

6/30/2010

9/30/2010

12/31/2010

3/31/2011

6/30/2011

Net income (loss)

4.0

$           

6.8

$           

(4.3)

$          

6.0

$           

(7.0)

$          

(33.6)

$        

(13.0)

$        

(18.7)

$        

(40.1)

$        

Interest expense, net

1.3

1.9

4.2

8.0

13.3

13.9

14.1

41.5

39.3

Income tax provision (benefit)

0.9

1.1

(0.6)

2.3

8.4

2.8

5.5

2.9

7.8

Depreciation

2.1

3.2

4.3

7.5

8.4

8.8

8.8

16.1

16.0

Loss on debt extinguishment

-

-

-

-

-

24.0

-

-

25.2

Loss on acquisition of subsidiary

-

-

-

-

-

3.8

-

-

-

  EBITDA

8.3

$           

13.0

$         

3.6

$           

23.8

$         

23.1

$         

19.7

$         

15.4

$         

41.9

$         

48.2

$         

Share-based compensation expense

1.2

1.2

1.4

1.5

1.5

1.6

1.5

0.9

1.5

Adjusted EBITDA

9.5

$           

14.2

$         

5.0

$           

25.3

$         

24.6

$         

21.3

$         

16.9

$         

42.8

$         

49.7

$         

Fiscal Quarter Ended,