.
.
.
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JUNE 20, 2005
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
- -------------------------------------------------------------------------------------------------------------------------
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Quest 3,500' Victory Class GOM Contracted Walter one assignment well mid 120's
from Noble
- -------------------------------------------------------------------------------------------------------------------------
Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 220 day extension mid 70's
- -------------------------------------------------------------------------------------------------------------------------
Ocean America 5,500' Ocean Odyssey GOM Contracted Pioneer three wells low 150's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Kerr-McGee one well high 90's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Victory 5,500' Victory Class GOM Contracted Shell two wells low 160's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Confidence 7,500' DP Aker H-3.2 GOM Contracted BP five-year term mid 170's
Modified
- -------------------------------------------------------------------------------------------------------------------------
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Voyager 2,000' Victory Class GOM Contracted Kerr-McGee one well low 110's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Concord 2,200' F&G SS-2000 GOM Contracted Amerada Hess one well mid 120's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Lexington 2,200' F&G SS-2000 GOM Shipyard DODI - -
- -------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG three wells mid 60's
- ------------------------------------------------------------------------------------------------------------------------
RIG NAME START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Quest mid June 2005 late July 2005 120 day term plus option with Noble in mid 120's beginning mid June
and ending mid Oct. 2005. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Star early Dec. 2004 mid July 2005 90 day term extension plus option with Kerr-McGee in low 140's
beginning mid July 2005 and ending early Oct. 2005; followed by 12
month extension with Kerr-McGee in mid 170's beginning early Oct.
2005 and ending early Oct. 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean America early May 2005 mid Sept. 2005 Following assignment wells with Pioneer, first of two extension wells
with Mariner in mid 110's beginning mid Sept. and ending late Oct.;
followed by second well with Mariner in low 130's beginning late Oct.
and ending late Dec. 2005; followed by one year term plus option with
Mariner in low 230's beginning late Dec. 2005 and ending late Dec.
2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant mid May 2005 late June 2005 One well with Kerr-McGee in low 130's beginning late June and ending
late Aug. 2005; followed by 180 day term extension with Kerr-McGee in
low 150's beginning late Aug. 2005 and ending mid Feb. 2006.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Victory early late July 2005 One well with Kerr-McGee in mid 180's beginning late July and ending
June 2005 early Sept.; followed by one year term with Murphy in low 200's
beginning early Sept. 2005 and ending early Sept. 2006. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence early Jan. early Jan. LOI for two-year term plus option in low 280's beginning early Jan.
2001 2006 2006 and ending early Jan. 2008. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (4)
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager early May 2005 mid June 2005 Two wells with ATP in mid 90's beginning mid June and ending early
Aug.; followed by one well with Amerada Hess in low 110's beginning
early Aug. and ending late Sept.; followed by LOI for one well in low
110's beginning late Sept. and ending mid Nov.; followed by two wells
plus option with Amerada Hess in mid 120's beginning mid Dec. 2005
and ending mid Feb. 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Concord late May 2005 late July 2005 One well with Kerr-McGee in mid 70's beginning late July. and ending
late Sept.; followed by two well extension plus option with
Kerr-McGee in mid 90's beginning late Sept. and ending mid Dec.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington - late Sept. Approximately 120-day Survey and maintenance between second and third
2005 well, beginning late May and ending late Sept. Following survey, two
additional wells with Walter in low 60's beginning late Sept. and
ending late Nov.; followed by one well plus option with Walter in low
80's beginning late Nov. and ending late Dec. 2005. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga mid Dec. 2004 late June 2005 Two wells plus option with LLOG in low 110's beginning late June and
ending late Nov.; followed by six month extension with LLOG in low
120's beginning late Nov. 2005 and ending late May 2006. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
1
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JUNE 20, 2005
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
- -------------------------------------------------------------------------------------------------------------------------
DOMESTIC JACKUPS (12)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Crusader 200' Mat Cantilever GOM DODI - - -
- -------------------------------------------------------------------------------------------------------------------------
Ocean Drake 200' Mat Cantilever GOM Contracted ADTI/Seneca three wells plus mid 40's
option
- -------------------------------------------------------------------------------------------------------------------------
Ocean Champion 250' Mat Slot GOM Contracted Hunt two wells low 40's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Columbia 250' Independent Leg GOM Contracted Kerr-McGee Five wells mid 40's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Spartan 300' Independent Leg GOM Contracted LLOG three wells plus high 40's
Cantilever option
- -------------------------------------------------------------------------------------------------------------------------
Ocean Spur 300' Independent Leg GOM Contracted Forest one well plus option mid 40's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean King 300' Independent Leg GOM Contracted El Paso two well extension mid 50's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Nugget 300' Independent Leg GOM Contracted Houston Expl. two wells plus option low 50's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Summit 300' Independent Leg GOM Contracted LLOG two wells plus option mid 40's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Warwick 300' Independent Leg GOM Contracted Chevron 90 day term low 60's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Titan 350' Independent Leg GOM Contracted BHP one well plus option mid 50's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Tower 350' Independent Leg GOM Contracted Chevron one well plus option mid 50's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
RIG NAME START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------
DOMESTIC JACKUPS (12)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Crusader - - Leg repair; One well with Unocal in high 40's beginning late June and
ending mid July. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Drake early May 2005 late June 2005 One well with ADT/Samson in low 50's beginning late June and ending
late July; followed by term contract with Chevron in low 50's
beginning late July 2005 and ending late June 2006. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Champion late Jan. 2005 late June 2005 One well extension plus option with Hunt in mid 40's beginning late
June and ending early Aug. 2005; followed by two well extension plus
option with Hunt in low 50's beginning early Aug. and ending mid Oct.
2005. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Columbia early Jan. 2005 early July Six month term plus option with Newfield in mid 50's beginning early
2005 July 2005 and ending early Jan. 2006. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Spartan late Feb. 2005 late June 2005 Two well extension plus option with LLOG in high 50's beginning late
June and ending late Aug. 2005. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Spur mid May 2005 late June 2005 Maintenance/repairs late June through late Aug. 2005. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean King mid May 2005 late June 2005 One well with El Paso in mid 60's beginning late June and ending mid
July; followed by one well extension in low 60's beginning mid July
and ending late July 2005. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Nugget mid May 2005 early Sept. Available; actively marketing.
2005
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Summit late Feb. 2005 late June 2005 One well extension plus option with LLOG in high 50's beginning late
June and ending late July 2005; followed by one well extension plus
option with LLOG in mid 60's beginning late July and ending late Aug.
2005. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Warwick late May 2005 early Aug. Available; actively marketing.
2005
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Titan late Jan. 2005 mid Aug. 2005 Three wells with Walter in mid 70's beginning mid Aug. and ending mid
Nov. 2005. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Tower early Jan. 2005 mid Aug. 2005 One well extension plus option with Chevron in high 60's beginning
mid Aug. and ending early Nov. 2005; followed by LOI for one well in
mid 80's beginning early Nov. and ending late Dec. 2005. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
2
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JUNE 20, 2005
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
- ------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLES (17)
- ------------------------------------------------------------------------------------------------------------------------
MEXICO
- ------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX four year term work mid 50's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX four year term work low 60's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Worker 3,500' F&G 9500 Enhanced GOM Contracted PEMEX four year term work high 60's
Pacesetter
- ------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX four year term work mid 40's
- ------------------------------------------------------------------------------------------------------------------------
NORTH SEA
- ------------------------------------------------------------------------------------------------------------------------
Ocean Nomad 1,200' Aker H-3 North Sea Contracted Talisman one year low 80's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Guardian 1,500' Earl & Wright North Sea Contracted Shell one year low 80's
Sedco 711 Series
- ------------------------------------------------------------------------------------------------------------------------
Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman one year extension low 80's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted Statoil one year term low 140's
- ------------------------------------------------------------------------------------------------------------------------
AUSTRALASIA
- ------------------------------------------------------------------------------------------------------------------------
Ocean Bounty 1,500' Victory Class Australia Contracted ENI one well plus option mid 80's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Patriot 1,500' Bingo 3000 Australia Contracted Santos three wells high 70's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Epoch 1,640' Korkut Malaysia Contracted Murphy six wells plus option mid 70's
- ------------------------------------------------------------------------------------------------------------------------
Ocean General 1,640' Korkut Malaysia Contracted CTOC six wells mid 70's
- ------------------------------------------------------------------------------------------------------------------------
Ocean Baroness 7,000' Victory Class Singapore Shipyard DODI - -
- ------------------------------------------------------------------------------------------------------------------------
Ocean Rover 7,000' Victory Class Malaysia Contracted Murphy six option wells mid 120's
- ------------------------------------------------------------------------------------------------------------------------
RIG NAME START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLES (17)
- ------------------------------------------------------------------------------------------------------------------------------
MEXICO
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador late July 2003 mid Dec. 2007 Available.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington late July 2003 early Oct. 2006 Available.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Worker mid Aug. 2003 late July 2007 Available.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown late Oct. 2003 mid July 2007 Available.
- ------------------------------------------------------------------------------------------------------------------------------
NORTH SEA
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad early Jan. 2005 late Jan. 2006 LOI for one year in mid 150's beginning late Jan. 2006 and ending
late Jan. 2007. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian late Mar. 2005 late Mar. 2006 One-year term extension plus option with Shell in low 160's beginning
late Mar. 2006 and ending late Mar. 2007. Available; actively
marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Princess early Jan. 2005 late Dec. 2005 LOI for two years plus option in low 150's beginning in late Dec.
2005 and ending in late Dec. 2007. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard late May 2005 early Sept. One year plus option program in Norway with Statoil in low 140's
2006 beginning in late May 2005 and ending in early Sept. 2006 (time
period to include one well redrill with ENI in low 140's beginning
late July and ending late Oct. 2005). Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
AUSTRALASIA
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Bounty early April 2005 late June 2005 One well plus option with ConocoPhillips in mid 80's beginning late
June and ending early Sept.; followed by one well with Coogee Res. in
mid 80's beginning early Sept. and ending early Oct.; followed by two
wells plus option with Coogee in low 90's beginning early Oct. and
ending mid Dec.; followed by LOI for one well plus option in mid 90's
beginning mid Dec. 2005 and ending mid Jan. 2006; followed by four
wells plus option in high 90's with Woodside beginning mid Jan. 2006
and ending late July 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot late April 2005 early Aug. One well plus three options with Anzon in high 70's beginning early
2005 Aug. and ending mid Sept.; followed by one well with Bass Straits in
high 70's beginning mid Sept. and ending late Sept.; followed by one
well with Bass Straits in high 130's beginning late Sept. and ending
mid Oct.; followed by one well with Apache in low 150's beginning mid
Oct. and ending mid Nov.; followed by first of four Anzon options in
mid 130's beginning mid Nov. and ending late Dec.; followed by second
of four Anzon options in upper 130's beginning late Dec. 2005 and
ending late Jan. 2006; followed by third and fourth of four options
in low 140's beginning late Jan. 2006 and ending early April;
followed by Survey beginning early April and ending mid April;
followed by two exercised option wells with Apache in high 70's
beginning mid April and ending early June; followed by four wells
plus option with NZOP in low 100's beginning early June and ending
late Dec. 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch late April 2005 mid Dec. 2005 Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean General mid June 2005 mid Jan. 2006 LOI for one well plus option in high 70's in Viet Nam beginning mid
Jan. 2006 and ending mid Feb. 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Baroness - - Shipyard/survey early June until mid Aug. Mobe to GOM and prep for
one year plus option with Amerada Hess in low 200's beginning mid
Oct. 2005 and ending mid Oct. 2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
Ocean Rover late Jan. 2005 late June 2005 LOI with Murphy for 950 day extension at average dayrate in mid 170's
beginning late June 2005 and ending mid Jan. 2008. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------
3
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JUNE 20, 2005
DAYRATE
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM (000s)
- -------------------------------------------------------------------------------------------------------------------------
BRAZIL
- -------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy 3,300' DP DYVI Super Brazil Contracted Petrobras 700 day extension mid 70's
Yatzy
- -------------------------------------------------------------------------------------------------------------------------
Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras 700 day extension mid 50's
- -------------------------------------------------------------------------------------------------------------------------
Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras one year extension high 90's
- -------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL DRILLSHIPS (1)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Clipper 7,500' DP Fluor/Mitsubishi Brazil Contracted Petrobras 700 day extension low 100's
- -------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL JACKUPS (2)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign 250' Independent Leg Indonesia Contracted Santos eight wells upper 60's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
Ocean Heritage 300' Independent Leg Qatar Contracted Conoco/Phillips two wells plus option low 70's
Cantilever
- -------------------------------------------------------------------------------------------------------------------------
=========================================================================================================================
UPGRADE (1)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor 2,000' Victory Class Shipyard Upgrading DODI - -
- -------------------------------------------------------------------------------------------------------------------------
COLD STACKED (1)
- -------------------------------------------------------------------------------------------------------------------------
Ocean New Era 1,500' Korkut GOM Cold Stacked DODI - -
- -------------------------------------------------------------------------------------------------------------------------
ASSETS HELD FOR SALE (0)
- -------------------------------------------------------------------------------------------------------------------------
Ocean Liberator 600' Aker H-3 - SOLD - - -
- -------------------------------------------------------------------------------------------------------------------------
PURCHASE PENDING--RESERVED FOR UPGRADE (1)
- -------------------------------------------------------------------------------------------------------------------------
Garden Banks** 2,200' Victory Class GOM Out of - - -
Service
- -------------------------------------------------------------------------------------------------------------------------
- -------------------------------------------------------------------------------------------------------------------------
RIG NAME START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------
BRAZIL
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy early Nov. 2003 early Oct. LOI for four-year term extension in mid 110's, plus potential bonus,
2005 beginning early Oct. 2005 and ending early Oct. 2009. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Winner early April 2004 mid Mar. 2006 LOI for four-year term extension in low 110's, plus potential bonus,
beginning mid Mar. 2006 and ending mid Mar. 2010. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Alliance early Sept. 2004 early Sept. LOI for four-year term extension in mid 150's, plus potential bonus,
2005 beginning early Sept. 2005 and ending early Sept. 2009. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL DRILLSHIPS (1)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Clipper early Jan. 2003 mid Dec. 2005 LOI for five-year extension in low 180's, plus potential bonus,
beginning mid Dec. 2005 and ending mid Dec. 2010. Available;
actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL JACKUPS (2)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign early May 2005 early Mar. Available; actively marketing.
2006
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Heritage mid June 2005 late Mar. 2006 Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
=============================================================================================================================
UPGRADE (1)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor - - Singapore shipyard for upgrade to 10,000 ft. capable 5th Generation
rig. Estimated completion early 2007. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------
COLD STACKED (1)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean New Era - - Cold stacked Dec. '02.
- -----------------------------------------------------------------------------------------------------------------------------
ASSETS HELD
FOR SALE (0)
- -----------------------------------------------------------------------------------------------------------------------------
Ocean Liberator - -
- -----------------------------------------------------------------------------------------------------------------------------
PURCHASE PENDING -- RESERVED FOR UPGRADE (1)
- -----------------------------------------------------------------------------------------------------------------------------
Garden Banks** - - Currently retired from active service as drilling and production
platform.
- -----------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------
NOTES:
* GENERALLY, RIG UTILIZATION RATES APPROACH 95-98% DURING CONTRACTED PERIODS;
HOWEVER, UTILIZATION RATES CAN BE ADVERSELY IMPACTED BY ADDITIONAL DOWNTIME
DUE TO UNSCHEDULED REPAIRS AND MAINTENANCE, WEATHER CONDITIONS AND OTHER
FACTORS.
** DIAMOND OFFSHORE SERVICES COMPANY HAS ENTERED INTO A DEFINITIVE AGREEMENT TO
PURCHASE THE GARDEN BANKS, SUBJECT TO CERTAIN CONDITIONS, WHICH IS EXPECTED
TO BE CONSUMMATED IN SEPTEMBER 2005. DIAMOND OFFSHORE DOES NOT CURRENTLY OWN
THE RIG.
GOM = Gulf of Mexico
4