 Vantage Drilling Company GHS 100 Energy Conference San Francisco, California June 25, 2012 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: $450 million Book Value: $700 million Enterprise Value: $2.5 billion Employees: > 1,000 Contract Backlog: $2.8 billion Owned Fleet: 4 Ultra-Premium Jackups 1 Ultra-Deepwater Drillship 1 Ultra-Deepwater Drillship in transit to US GOM 1 Ultra-Deepwater Drillship under construction Managed Fleet: 1 Ultra-Deepwater Drillship under construction Corporate Overview 3 |
 Acquisition of 100% of Titanium Explorer announced on March 20, 2012; deal closed simultaneously with the delivery of the Titanium Explorer in April 2012 – the Titanium Explorer has completed load-out and is sailing in the Atlantic with an expected arrival in Port Fourchon, Louisiana in mid July. Sapphire Driller awarded two new short-term contracts at $165,000 per day net of taxes which will keep on contract through the middle of 2013. Tungsten Explorer has left drydock, expected delivery 2 quarter 2013 Ultra-deepwater rates moving up rapidly, providing excellent contracting opportunity for newbuild Tungsten Explorer Q4 2010 - Took delivery of Platinum Explorer – on-time, on budget, commenced operations with ONGC, and achieved impressive utilization – First 12 months of operation – 92.4% utilization Completed 1 Quarter 2012 @ 97.0% utilization Commenced high-profile jackup contract for ultra-HPHT work in Malaysia @ $187,000 per day (inclusive of reimbursed upgrades); 14-21 month duration Recent Developments 4 nd st April 2, 2012, closed a $775.0 million 11.5% Senior Notes “Tack-on” financing at on offer price of 108%, resulting in net proceeds to Vantage of approximately $820.0 million to complete the financing of the Titanium Explorer acquisition and working capital. |
 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, the Platinum Explorer drillship and the Titanium Explorer of approximately $2.5 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 newbuilds delivered on budget and on time Jackup fleet has experienced approx. 99% of productive time for Vantage’s first 38 months in operation Proven Operational Track Record Significant cash flow visibility Contract backlog of approximately $2.8 billion with industry leading E&P Companies. Prior work experience includes a strong customer mix including: 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 5 Level of efficiency is exceptional for newly-constructed jackup rigs upon commencement of operations Total, ENI, Petrobras, ONGC, Petronas Cargali, PTT Thailand, Pearl Energy, Bowleven, Foxtrot International, Phu Quy (1) , and Salamander. |
 Successful construction management arrangements for ultra-deepwater drillships, including completed Aker drillships and SeaDragon semisubmersible projects and ongoing Dalian Developer project. Provided Vantage with significant engineering expertise and experience in Korean, Chinese and Singaporean shipyards. Management team with extensive experience; average of 29 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) 6 |
 Owned Assets • Delivered On-Time, On- Budget - December 2008 • 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 • Delivery Q1 2013 • Company owned newbuild project • Leverages shipyard experience • Favorable costs and delivery schedule • Delivery Q2 2013 Tungsten Explorer Premium Owned Fleet with a Proven Operational Track Record • 2 Successful newbuild at DSME • Delivery April 2012 Construction Management Projects Dalian Developer Newbuild Ultra-Premium Marine Pacific Class 375 Jackups Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Platinum Explorer Ultra-Deepwater 12,000 ft Drillships • Delivered On-Time, On- Budget - November 2010 • Delivered On-Time, On- Budget - July 2009 • Delivered On-Time, On- Budget - December 2009 • Delivered On-Time, On- Budget - September 2009 Titanium Explorer Ultra-Deepwater Drillship 7 nd |
 Business Strategy Capitalize on Customer Demand for High- Specification Units • Customer demand for new high-specification units supported by: Need for rigs well-suited for drilling through deep and complex formations and drilling horizontally Enhanced efficiency providing faster drilling and moving times Improved safety features and lower downtime for maintenance Expand Deepwater Exposure • Technological developments have made ultra-deepwater exploration more feasible and cost-effective in recent years • Water-depth capability and equipping of Vantage's ultra-deepwater drilling units is attractive for customers Will provide significant advantages in obtaining long-term ultra-deepwater drilling contracts in the future Focus on Long-term Contracts • Long-term drillship contracts for Platinum Explorer (5 years) and Titanium Explorer (8 years) • Jackups operating on contracts with average 14-month terms (average 12 months remaining backlog) • $2.8 billion in contract backlog mitigates cyclical oil and gas industry risk Expand Key Industry Relationships • Focused on expanding relationships with national oil companies, major oil companies, large independents and super-regionals • Will lead to longer-term contracts to build backlog • Strong existing relationships have contributed to large existing backlog and repeat business with customers Pursue Acquisition Opportunities • Growth through acquisitions of assets and other offshore drilling companies • Current construction management contracts provide potential acquisition targets 8 |
 Strong Customer Relationships Key Customers 9 |
 • 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 system and 4 rams • High-capacity, high efficiency – 5 x CAT 3516 B Diesel engines Quarterly Financial Performance Ultra-Premium Jackup Fleet World class assets achieving world class performance Fleet productive time approximately 99% since inception Emerald Driller Sapphire Driller Aquamarine Driller Topaz Driller Increased Operational Efficiency and Improved Technical Capability: 10 |
 Fleet Status – Average Drilling Revenue/Day (1) 11 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 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) |
 • Premium jackups (350’ + IC rigs) and ultra-deepwater floater have historically maintained significantly higher utilization levels Source: Riglogix; ODS-PetroData. Premium Asset Advantage 12 Recent leading edge dayrates have reached $170K for jackups and $650 for deepwater floaters International vs. GOM Jackup Utilization Global Jackup Utilization Historical Floater Dayrates ($Thousands) Historical Floater Utilization |
 Capabilities and age – The current worldwide fleet is comprised mostly of older, inefficient rigs Age is a factor – Demand is increasing for high-specification jackups. Many customers are implementing age restrictions and new high-specification requirements. Source: ODS-Petrodata Global Jackup Fleet Distribution Profile of Global Jackup Fleet 13 Despite 126 newbuild deliveries since 2003, majority of worldwide jackup fleet remains older than 25 years 300'+ IC 151 300' IC 131 <250' IC 65 250' IC 57 300'+ IS 9 MC 40 <300' IS 15 MS 18 22% of today’s jackups are mat-supported and/or have less than 200ft of water depth capability 68% of today’s jackups are 25 years or older As of March 2012 a total of 85 rigs were either ready stacked, cold stacked, or in an accommodation mode without contract How many will not return to service? Age Rigs % % 300+ 200-299 <200 25 years or older 325 68% 58% 152 119 54 5 to 24 years 64 13% 11% 59 1 4 0 to 4 years 90 19% 16% 80 6 4 479 100% 291 126 62 2012 Deliveries 26 5% 24 2 0 2013 Deliveries 38 7% 37 1 0 2014 Deliveries 15 3% 13 2 0 558 100% 365 131 62 Age of Jackup Fleet Water Depth (feet) |
 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 14 Recent fixtures >$650,000 per day |
  Balance Sheet ($Millions) Financial Overview 15 December 31, December 31, March 31, 2010 2011 2012 Cash and cash equivalents 120.4 $ 110.0 $ 56.5 $ Restricted cash 29.0 7.0 5.4 Trade receivables 50.2 100.9 113.6 Inventory 19.8 24.4 25.7 Prepaid expenses and other current assets 11.5 16.9 17.4 230.9 259.3 218.5 Property and equipment, net 1,718.1 1,805.1 1,795.5 Investment in joint venture - - - Other assets 54.2 58.2 55.7 2,003.2 $ 2,122.5 $ 2,069.6 $ Accounts payable and accrued liabilities 107.5 $ 148.1 $ 99.4 $ Short-term debt 8.6 - - Current maturities of long-term debt - - - 116.1 148.1 99.4 Long–term debt 1,103.5 1,246.4 1,248.4 Other long term liabilities 13.5 29.8 24.5 Shareholders' Equity Paid-in capital 854.8 860.8 863.0 Retained Earnings (84.7) (162.6) (165.8) Accumulated other comprehensive loss - - - Total shareholders’ equity 770.2 698.2 697.2 2,003.2 $ 2,122.5 $ 2,069.6 $ Outstanding shares 289.7 291.2 �� 291.6 Book value per share 2.66 $ 2.40 $ 2.39 $ Long-term Debt matures in 2015 First Call option February 2013 |
 EBITDA Low 6.5x Today’s Peer Avg. 7.8x Historical Peer Avg. 11.6x $350 million $1.30 $3.70 $5.43 $400 million $2.41 $5.16 $9.41 $450 million $3.53 $6.62 $11.40 Implied Values – EV/EBITDA Source: Jefferies Price to Book Value Key Drivers Near Term – • Achieve high productive time on Platinum Explorer • Improving dayrate contract fixtures on jackups • Commencement of operations in US GOM for Titanium Explorer • Contract for the Tungsten Explorer 16 Significant Upside Valuation Potential |
 Historical Financial Information ($ Millions) Financial Overview 17 Achieved record Revenue and Adjusted EBITDA in 1 Quarter 2012 st |
 Reconciliation of Net Income (Loss) to Adjusted EBITDA ($Millions) Appendix 18 Fiscal Quarter Ended, 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 9/30/2011 12/31/2011 3/31/2012 Net income (loss) 4.0 $ 6.8 $ (4.3) $ 6.0 $ (7.0) $ (33.6) $ (13.0) $ (18.7) $ (40.1) $ (11.9) $ (7.3) $ (1.2) $ Interest expense, net 1.3 1.9 4.2 8.0 13.3 13.9 14.1 41.5 39.3 37.1 37.5 36.8 Income tax provision (benefit) 0.9 1.1 (0.6) 2.3 8.4 2.8 5.5 2.9 7.8 2.0 (1.2) 5.8 Depreciation 2.1 3.2 4.3 7.5 8.4 8.8 8.8 16.1 16.0 16.0 16.4 16.6 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 $ 43.2 $ 45.4 $ 58.0 $ Share-based compensation expense 1.2 1.2 1.4 1.5 1.5 1.6 1.5 0.9 1.5 1.6 1.9 2.3 Adjusted EBITDA 9.5 $ 14.2 $ 5.0 $ 25.3 $ 24.6 $ 21.3 $ 16.9 $ 42.8 $ 49.7 $ 44.8 $ 47.3 $ 60.3 $ |