 Vantage Drilling Company Barclays CEO Energy Conference New York, New York September 5, 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 ($1.54 per share) Book Value: < $700 million ($2.40 per share) Enterprise Value: < $2.5 billion Employees: > 1,000 Contract Backlog: $2.8 billion Owned Fleet: 4 Ultra-Premium Jackups (operating in SE Asia & West Africa) 1 Ultra-Deepwater Drillship (operating offshore India) 1 Ultra-Deepwater Drillship (undergoing final acceptance testing in GOM) 1 Ultra-Deepwater Drillship (under construction – May 2013 delivery) Managed Fleet: 1 Ultra-Deepwater Drillship (under construction – Q1/Q2 2013 delivery) Corporate Overview 3 |
 • Aquamarine Driller contract extended for an additional year at $153,400 per day, adding approximately $56 million of backlog (prior contract at $132,000). • Sapphire Driller awarded additional contracts at $165,000 per day net of taxes through the middle of 2013, adding approximately $34.5 million to backlog (prior contract at $120,000). • Acquisition of Titanium Explorer in April 2012. Undergoing customer acceptance testing with expected contract commencement end of September 2012. • Ultra-deepwater rates rising, providing excellent contracting opportunity for Tungsten Explorer (2 Quarter 2013 delivery). • Platinum Explorer has achieved impressive utilization – – First 12 months of operation – 92.4% utilization – Completed 1 Quarter 2012 @ 99.0% utilization – Completed 2 Quarter 2012 @ 99.0% utilization Recent Developments 4 nd st nd |
 • 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 $2.6 billion (< $3.2 billion upon delivery/completion of Tungsten Explorer) • Highly successful track record of managing, constructing, marketing and operating offshore drilling units • Deep in-house technical 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 42 months in operation • Significant long-term cash flow visibility • Contract backlog of approximately $2.7 billion with industry leading E&P Companies. • Work experience includes a strong customer mix including: (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 Premium Fleet Proven Operational Track Record Significant Contract Coverage with High Quality Counterparties – Level of efficiency is “best in class” – Total, ENI, Petrobras, ONGC, Petronas Cargali, PTT Thailand, Pearl Energy, Bowleven, Foxtrot (1) International, Phu Quy , 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 and technical personnel with highest level of expertise. Company Highlights (Cont’d) 6 Experienced Construction Supervision and Management and Operational Team Arrangements Management |
 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 Q2 2013 • 3 newbuild project at DSME • Leverages shipyard experience • Favorable costs and delivery schedule • Delivery Q2 2013 Tungsten Explorer Premium Owned Fleet with a Proven Operational Track Record 7 • 2 Successful newbuild at DSME • Delivery April 2012 • On Contract by Q4 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 nd rd |
 Business Strategy 8 • 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 • Long-term drillship contracts for Platinum Explorer (5 years) and Titanium Explorer (8 years) • Marketing Tungsten Explorer with focus on project term of 3-5 years • Jackups operating on contracts with multi-year term • Negotiating multi-year extension for Emerald Driller • $2.7 billion in contract backlog mitigates cyclical oil and gas industry risk • Focused on expanding relationships with national oil companies, major oil companies, large independents and super-regionals (generally longer contract duration) • Strong existing relationships have contributed to large existing backlog and repeat business with customers • Organic growth through attractive shipyard orders • Growth through acquisitions of assets and other offshore drilling companies • Both deepwater and jackups attractive; however current conditions favor ultra-deepwater Capitalize on Customer Demand for High- Specification Units Focus on Long-term Contracts Expand Key Industry Relationships Pursue Expansion Opportunities |
 Vantage Offices Managed Rigs Country of Operation Worldwide Operations 9 Houston Dubai Singapore Contract: Petrobras Titanium Explorer U.S. GOM Sapphire Driller Contract: Foxtrot Ivory Coast Contract: ONGC Platinum Explorer India Contract: PTT Emerald Driller Thailand Aquamarine Driller Contract: Petronas Carigaili Malaysia Topaz Driller Contract: Total Malaysia Owned Rigs |
 Strong Customer Relationships 10 Key Customers |
 • 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 Ultra-Premium Jackup Fleet 11 Emerald Driller Sapphire Driller Topaz Driller Aquamarine Driller World class assets achieving world class performance Fleet productive time approximately 99% since inception Quarterly Financial Performance Increased Operational Efficiency and Improved Technical Capability: |
 (1) 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. (2) 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. Fleet Status – Average Drilling Revenue/Day 12 Ownership 2012 2013 2014 Rig % Q1 Q2 Q3 Q4 Q1 Q2 Q4 Q1 Q2 Q3 Q4 Jackups Emerald Driller 100% $130K Sapphire Driller 100% $120K (net of taxes) $165K (net) $165K (net) $175 (net) Aquamarine Driller 100% $132K $153K Topaz Driller 100% $187K (includes upgrades and mobilization) $135K Drillships Platinum Explorer 100% $590.5K (5 years) Titanium Explorer 100% $572K (8 years) (2) Tungsten Explorer 100% Contracted Option Commisioning / Construction Contract Mobilization / (1) Q3 Contract extension being negotiated for Emerald (up to 3 years) |
 • Premium jackups (350’ + IC rigs) and ultra-deepwater floater have historically maintained significantly higher utilization levels Source: Riglogix; ODS-PetroData. Premium Asset Advantage 13 Recent leading edge dayrates have reached $170K for jackups and $650K for ultra-deepwater floaters Global Jackup Utilization International vs. GOM Jackup Utilization Historical Floater Dayrates ($Thousands) Historical Floater Utilization GOM Midwater Deepwater Ultradeepwater Midwater Deepwater Ultra-Deepwater <300 ft. 300 to 349 ft. IC 350+ ft IC Rest of World |
 • Capabilities and age – The current worldwide fleet is comprised mostly of older, inefficient rigs Source: ODS-Petrodata Global Jackup Fleet Distribution Profile of Global Jackup Fleet 14 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) Despite 126 newbuild deliveries since 2003, majority of worldwide jackup fleet remains older than 25 years – 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 stacked, cold stacked, or in an accommodation mode without drilling contract – How many will not return to service? • Age is a factor – Demand is increasing for high-specification jackups. Many customers are implementing age restrictions and new high-specification requirements. MS 18 300'+ IC 151 MC 40 300'+ IC 9 250' IC 57 <300' IS 15 <250' IC 65 300' IC 131 |
 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 Recent fixtures >$650,000 per day |
 Balance Sheet ($Millions) Financial Overview 16 Long-term Debt matures in 2015 First Call option February 2013 December 31, December 31, June 30, 2010 2011 2012 Cash and cash equivalents 120.4 $ 110.0 $ 123.7 $ Restricted cash 29.0 7.0 5.9 Trade receivables 50.2 100.9 78.2 Inventory 19.8 24.4 33.6 Prepaid expenses and other current assets 11.5 16.9 13.0 230.9 259.3 254.5 Property and equipment, net 1,718.1 1,805.1 2,648.2 Investment in joint venture - - - Other assets 54.2 58.2 86.4 2,003.2 $ 2,122.5 $ 2,989.1 $ Accounts payable and accrued liabilities 107.5 $ 148.1 $ 197.0 $ Short-term debt 8.6 - - Current maturities of long-term debt - - - 116.1 148.1 197.0 Long–term debt 1,103.5 1,246.4 2,082.7 Other long term liabilities 13.5 29.8 20.1 Shareholders' Equity Paid-in capital 854.8 860.8 865.2 Retained Earnings (84.7) (162.6) (175.8) Accumulated other comprehensive loss - - - Total shareholders’ equity 770.2 698.2 689.4 2,003.2 $ 2,122.5 $ 2,989.1 $ Outstanding shares 289.7 291.2 292.4 Book value per share 2.66 $ 2.40 $ 2.36 $ |
 EBITDA Low 6.5x Today’s Peer Avg. 8.8x Historical Peer Avg. 11.6x $400 million $2.04 $4.91 $8.42 $450 million $3.04 $6.29 $10.23 $500 million $4.06 $7.66 $12.05 $550 million $5.08 $9.04 $13.87 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 • Refinance $2 billion debt in 2013 17 Significant Upside Valuation Potential Peer Group (current) Peer Group (2009-2010) Peer Group (2005-2009) VTG 140% 190% 300% 64% |
 Historical Financial Information ($ Millions) Financial Overview 18 Achieved record Revenue and Adjusted EBITDA in 1 Quarter 2012 Quarter Ended Revenue Adjusted EBITDA $140.0 $120.0 $100.0 $80.0 $60.0 $40.0 $20.0 $0.0 $14.3 $6.4 $22.2 $9.5 $36.4 $14.2 $38.6 $58.3 $5.0 $25.3 $68.4 $24.6 $66.9 $21.3 $84.9 $16.9 $124.6 $42.8 $120.9 $49.7 $118.5 $44.8 $121.3 $47.3 $131.8 $60.3 $105.1 $50.9 3/31/2009 6/30/2009 9/30/2009 12/31/2009 3/31/2010 6/30/2010 9/30/2010 12/31/2010 3/31/2011 6/30/2011 9/30/2011 12/31/2011 3/31/2012 6/30/2012 st |
 Reconciliation of Net Income (Loss) to Adjusted EBITDA ($Millions) Appendix 19 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 6/30/2012 Net income (loss) 6.0 $ (7.0) $ (33.6) $ (13.0) $ (18.7) $ (40.1) $ (11.9) $ (7.3) $ (1.2) $ (10.0) $ Interest expense, net 8.0 13.3 13.9 14.1 41.5 39.3 37.1 37.5 36.8 36.2 Income tax provision (benefit) 2.3 8.4 2.8 5.5 2.9 7.8 2.0 (1.2) 5.8 6.1 Depreciation 7.5 8.4 8.8 8.8 16.1 16.0 16.0 16.4 16.6 16.4 Loss on debt extinguishment - - 24.0 - - 25.2 - - - - Loss on acquisition of subsidiary - - 3.8 - - - - - - - EBITDA 23.8 $ 23.1 $ 19.7 $ 15.4 $ 41.9 $ 48.2 $ 43.2 $ 45.4 $ 58.0 $ 48.7 $ Share-based compensation expense 1.5 1.5 1.6 1.5 0.9 1.5 1.6 1.9 2.3 2.2 Adjusted EBITDA 25.3 $ 24.6 $ 21.3 $ 16.9 $ 42.8 $ 49.7 $ 44.8 $ 47.3 $ 60.3 $ 50.9 $ |