.
.
.
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF July 26, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ----------------------------------------------------------------------------------------------------------------------------------
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Quest 3,500' Victory Class GOM Contracted Walter one assignment well from
Noble
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Star 5,500' Victory Class GOM Contracted Kerr-McGee 90 day term extension
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean America 5,500' Ocean Odyssey GOM Contracted Pioneer three wells
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant 5,500' Ocean Odyssey GOM Contracted Kerr-McGee one well
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Victory 5,500' Victory Class GOM Contracted Shell two wells
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence 7,500' DP Aker H-3.2 Modified GOM Contracted BP five-year term
- ----------------------------------------------------------------------------------------------------------------------------------
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5)
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean New Era 1,500' Korkut GOM Reactivating DODI -
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager 2,000' Victory Class GOM Contracted ATP two wells
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Concord 2,200' F&G SS-2000 GOM Contracted Amerada Hess one well
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington 2,200' F&G SS-2000 GOM Shipyard DODI -
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga 2,200' F&G SS-2000 GOM Contracted LLOG three wells
- ----------------------------------------------------------------------------------------------------------------------------------
RIG NAME DAYRATE (000S) START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------------
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Quest mid 120's mid June 2005 early Aug. 2005 120 day term plus option with Noble in mid 120's
beginning mid June and ending mid Oct. 2005;
followed by LOI for six-month term plus option in
the low 240's beginning in mid Oct. 2005 and
ending in mid April 2006. Available; actively
marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Star low 140's mid July 2005 mid Oct. 2005 12 month extension with Kerr-McGee in mid 170's
beginning mid Oct. 2005 and ending mid Oct. 2006.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean America low 150's early May 2005 late Oct. 2005 Following assignment wells with Pioneer, first of
two extension wells with Mariner in mid 110's
beginning late Oct.; followed by second well with
Mariner in low 130's beginning late Oct. and
ending mid Feb. 2006; followed by one year term
plus option with Mariner in low 230's beginning
mid Feb. 2006 and ending mid Feb. 2007. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant low 130's late June 2005 mid Sept. 2005 180 day term extension with Kerr-McGee in low
150's beginning mid Sept. 2005 and ending mid Mar.
2006. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Victory low 160's early June 2005 mid Aug. 2005 One well with Kerr-McGee in mid 180's beginning
mid Aug. and ending mid Sept.; followed by one
year term with Murphy in low 200's beginning mid
Sept. 2005 and ending mid Sept. 2006. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence mid 170's early Jan. 2001 early Jan. 2006 Two-year term plus option with BP in low 280's
beginning early Jan. 2006 and ending early Jan.
2008. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (5)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean New Era - - - Est. availability mid Nov. 2005; followed by
six-month term with Walter in low 100's for first
30 days and mid 120's for remainder of term
beginning mid Nov. 2005 and ending mid May 2006.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager mid 90's late June 2005 mid Aug. 2005 One well with Amerada Hess in low 110's beginning
mid Aug. and ending early Oct.; followed by LOI
for one well in low 110's beginning early Oct. and
ending late Nov.; followed by two wells plus
option with Amerada Hess in mid 120's beginning
late Nov. 2005 and ending late Feb. 2006.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Concord mid 120's late May 2005 early Aug. 2005 One well with Kerr-McGee in mid 70's beginning
early Aug. and ending late Oct.; followed by one
assignment well from Kerr-McGee with Woodside in
mid 90's beginning late Oct. and ending early Dec.
2005; followed by one well extension plus option
with Kerr-McGee in mid 90's beginning late Dec.
2005 and ending mid Jan. 2006; followed by 90-day
term plus option with Tana in low 130's beginning
mid Jan. and ending mid April 2006. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington - - late Sept. 2005 Approximately 120-day Survey and maintenance
between second and third 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 60's mid Dec. 2004 early Aug. 2005 Two wells plus option with LLOG in low 110's
beginning early Aug. and ending mid Dec.; followed
by six month extension with LLOG in low 120's
beginning mid Dec. 2005 and ending mid June 2006.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
2 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JULY 26, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- --------------------------------------------------------------------------------------------------------------------------
DOMESTIC JACKUPS (12)
- --------------------------------------------------------------------------------------------------------------------------
Ocean Crusader 200' Mat Cantilever GOM Contracted Unocal one well
- --------------------------------------------------------------------------------------------------------------------------
Ocean Drake 200' Mat Cantilever GOM Contracted ADTI/Samson one well
- --------------------------------------------------------------------------------------------------------------------------
Ocean Champion 250' Mat Slot GOM Contracted Hunt one well
- --------------------------------------------------------------------------------------------------------------------------
Ocean Columbia 250' Independent Leg Cantilever GOM DODI - -
- --------------------------------------------------------------------------------------------------------------------------
Ocean Spartan 300' Independent Leg Cantilever GOM Contracted LLOG three wells plus option
- --------------------------------------------------------------------------------------------------------------------------
Ocean Spur 300' Independent Leg Cantilever GOM DODI - -
- --------------------------------------------------------------------------------------------------------------------------
Ocean King 300' Independent Leg Cantilever GOM Contracted El Paso one well extension
- --------------------------------------------------------------------------------------------------------------------------
Ocean Nugget 300' Independent Leg Cantilever GOM Contracted Houston Expl. two wells plus option
- --------------------------------------------------------------------------------------------------------------------------
Ocean Summit 300' Independent Leg Cantilever GOM Contracted LLOG one well extension
- --------------------------------------------------------------------------------------------------------------------------
Ocean Warwick 300' Independent Leg Cantilever GOM Contracted Chevron 90 day term
- --------------------------------------------------------------------------------------------------------------------------
Ocean Titan 350' Independent Leg Cantilever GOM Contracted BHP one well plus option
- --------------------------------------------------------------------------------------------------------------------------
Ocean Tower 350' Independent Leg Cantilever GOM Contracted Chevron one well plus option
- --------------------------------------------------------------------------------------------------------------------------
DAYRATE
RIG NAME (000s) START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
DOMESTIC JACKUPS (12)
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Crusader high 40's late June 2005 early Aug. 2005 Two wells plus option with Seneca in high 40's
beginning early Aug. and ending late Sept. 2005.
Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Drake low 50's late June 2005 late July 2005 Term contract with Chevron in low 50's beginning late
July 2005 and ending late June 2006. Available;
actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Champion mid 40's late June 2005 early Aug. 2005 Two well extension plus option with Hunt in low 50's
beginning early Aug. and ending mid Oct. 2005.
Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Columbia - - - 10-day spud can inspection; followed by six month term
plus option with Newfield in mid 50's beginning late
July 2005 and ending late Jan. 2006. Available;
actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Spartan high 50's late June 2005 late Aug. 2005 (Two week survey Q4, 2005). Available; actively
marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Spur - - - Maintenance/repairs late June through late Aug. 2005.
Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean King mid 50's late June 2005 late July 2005 One well with El Paso in mid 60's beginning late July
and ending early Aug.; followed by one well extension
in low 60's beginning early Aug. and ending mid Aug.
2005; followed by one well with Walter in high 60's
beginning mid Aug. and ending mid Sept. 2005.
Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Nugget low 50's mid May 2005 early Sept. 2005 One well extension plus option with Houston Exploration
in high 60's beginning early Sept. and ending mid Oct.
2005. Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Summit high 50's late June 2005 late July 2005 One well extension plus option with LLOG in mid 60's
beginning late July and ending late Aug. 2005.
Available; actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Warwick low 60's late May 2005 late July 2005 Term extension with Chevron in mid 60's beginning late
July 2005 and ending early Jan. 2006. Available;
actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Titan mid 50's late Jan. 2005 early Aug. 2005 Three wells with Walter in mid 70's beginning early
Aug. and ending early Nov. 2005; followed by six-month
term with Dominion Exploration in high 70's beginning
early Nov. 2005 and ending early May 2006. Available;
actively marketing.
- ----------------------------------------------------------------------------------------------------------------------------------
Ocean Tower mid 50's 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.
- ----------------------------------------------------------------------------------------------------------------------------------
3 DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JULY 26, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- -----------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLES (17)
- -----------------------------------------------------------------------------------------------------------------------------------
MEXICO
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador 1,100' Bethlehem SS-2000 GOM Contracted PEMEX four year term work
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington 1,500' Aker H-3 GOM Contracted PEMEX four year term work
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Worker 3,500' F&G 9500 Enhanced Pacesetter GOM Contracted PEMEX four year term work
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown 2,850' F&G SS-2000 GOM Contracted PEMEX four year term work
- -----------------------------------------------------------------------------------------------------------------------------------
NORTH SEA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad 1,200' Aker H-3 North Sea Contracted Talisman one year
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian 1,500' Earl & Wright Sedco 711 Series North Sea Contracted Shell one year
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Princess 1,500' Aker H-3 North Sea Contracted Talisman one year extension
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard 1,500' Bingo 3000 North Sea Contracted Statoil one year term
- -----------------------------------------------------------------------------------------------------------------------------------
AUSTRALASIA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Bounty 1,500' Victory Class Australia Contracted ConocoPhillips two wells
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot 1,500' Bingo 3000 Australia Contracted Santos three wells
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch 1,640' Korkut Malaysia Contracted Murphy six wells plus option
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean General 1,640' Korkut Malaysia Contracted CTOC six wells
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Baroness 7,000' Victory Class Singapore Shipyard DODI --
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Rover 7,000' Victory Class Malaysia Contracted Murphy 950 day extension
- -----------------------------------------------------------------------------------------------------------------------------------
DAYRATE
RIG NAME (000S) START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador mid 50's late July 2003 mid Dec. 2007 Available.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington low 60's late July 2003 early Oct. 2006 Available.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Worker high 60's mid Aug. 2003 late July 2007 Available.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown mid 40's late Oct. 2003 mid July 2007 Available.
- -----------------------------------------------------------------------------------------------------------------------------------
NORTH SEA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad low 80's early Jan. 2005 late Jan. 2006 One year extension with Talisman in mid 150's beginning
late Jan. 2006 and ending late Jan. 2007.
Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian low 80's 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. (40-day survey Q3, 2005).
Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Princess low 80's early Jan. 2005 late Dec. 2005 Two year extension with Talisman plus option in low 150's
beginning in late Dec. 2005 and ending in late Dec. 2007.
Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard low 140's late May 2005 early Sept. 2006 One year plus option program in Norway with Statoil
in low 140's 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 mid 80's late June 2005 late Sept. 2005 One well with Coogee Res. in mid 80's beginning late Sept.
and ending late Oct.; followed by two wells plus option
with Coogee in low 90's beginning late Oct. and ending
late Dec.; followed by LOI for one well plus option in
mid 90's beginning late Dec. 2005 and ending late
Feb. 2006; followed by four wells plus option in high 90's
with Woodside beginning late Feb. 2006 and ending
late Aug. 2006. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot high 70's late April 2005 late July 2005 One well plus four options with Anzon in high 70's,
late July-early Sept.; followed by one well with Bass
Straits in high 70's, early Sept.-mid Sept.; followed by
one well with Bass Straits in high 130's,
mid Sept.-late Sept.; followed by one well with Apache in
high 70's, late Sept.-mid Oct.; followed by one assignmnet
well with Nexus in low 150's, mid Oct.-late Dec. 2005;
followed by 10-day survey ending mid-Jan. 2006;
followed by first of four Anzon options in mid 130's,
mid Jan. 2006-mid Feb.; followed by second of four Anzon
options in upper 130's, mid Feb.-mid Mar.; followed by
third and fourth of four options in low 140's,
mid Mar.-mid May; followed by one exercised assignment
option well from Apache with Nexus in high 70's, mid
May-mid June; followed by LOI for one assignment well in
low 200,000's, mid June-late July; followed by four
wells plus option with NZOP in low 100's, late July-late
Dec. 2006. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch mid 70's late April 2005 mid Dec. 2005 Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean General mid 70's mid June 2005 late Dec. 2006 Note: 5th & 6th wells in mid 90's beginning mid Oct.
and ending late Dec. 2005. LOI for one well plus option in
high 70's in Viet Nam beginning late Dec. 2005
and ending early 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 early Nov. 2005 and ending early
Nov. 2006. Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Rover mid 170's late June 2005 mid Jan. 2008 Available; actively marketing.
- -----------------------------------------------------------------------------------------------------------------------------------
DIAMOND OFFSHORE DRILLING, INC. RIG STATUS REPORT AS OF JULY 26, 2005
RIG NAME WD DESIGN LOCATION STATUS* OPERATOR CURRENT TERM
- ------------------------------------------------------------------------------------------------------------------------------------
BRAZIL
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy 3,300' DP DYVI Super Yatzy Brazil Contracted Petrobras 700 day extension
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Winner 3,500' Aker H-3 Brazil Contracted Petrobras 700 day extension
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Alliance 5,000' Alliance Class Brazil Contracted Petrobras one year extension
- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL DRILLSHIPS(1)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Clipper 7,500' DP Fluor/Mitsubishi Brazil Contracted Petrobras 700 day extension
- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL JACKUPS(2)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign 250' Independent Leg
Cantilever Indonesia Contracted Santos eight wells
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Heritage 300' Independent Leg
Cantilever Qatar Contracted Conoco/Phillips two wells plus option
- ------------------------------------------------------------------------------------------------------------------------------------
UPGRADE(1)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor 2,000' Victory Class Shipyard Upgrading DODI -
- ------------------------------------------------------------------------------------------------------------------------------------
PURCHASE PENDING--RESERVED FOR UPGRADE(1)
- -----------------------------------------------------------------------------------------------------------------------------------
Garden Banks** 2,200' Victory Class GOM Out of Service - -
- -----------------------------------------------------------------------------------------------------------------------------------
DAYRATE
RIG NAME (000s) START DATE EST. END DATE FUTURE CONTRACTS AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------------
BRAZIL
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy mid 70's early Nov. 2003 early Oct. 2005 Four-year term extension with Petrobras in mid
110's, plus potential bonus, beginning early Oct.
2005 and ending early Oct. 2009. (21-day
maintenance Q3 or Q4). Available; actively
marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Winner mid 50's early April 2004 mid Mar. 2006 Four-year term extension with Petrobras in low
110's, plus potential bonus, beginning mid Mar.
2006 and ending mid Mar. 2010. Available; actively
marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Alliance high 90's early Sept. 2004 early Sept. 2005 Four-year term extension with Petrobras in mid
150's, plus potential bonus, beginning early Sept.
2005 and ending early Sept. 2009. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL DRILLSHIPS(1)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Clipper low 100's early Jan. 2003 mid Dec. 2005 Five-year term extension with Petrobras in low
180's, plus potential bonus, beginning mid Dec.
2005 and ending mid Dec. 2010. Available; actively
marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL JACKUPS(2)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign upper 60's early May 2005 early Oct. 2005 LOI for two option wells in mid 70's beginning
early Oct. and ending late Dec. 2005; followed by
three wells in upper 60's beginning late Dec. 2005
and ending early Mar. 2006; followed by LOI for
two wells plus option in mid 80's beginning late
Jan. 2006 and ending late April 2006. Available;
actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Heritage low 70's 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; followed by commissioning beginning
early Mar. 2007; followed by LOI for a term of
between two and four years earning approximate
total revenue of between $198 million and $355
million depending upon the length of the contract
selected by the operator no later than year-end
2005. Contract is expected to begin mid 2007.
Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
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