History and Future Strategy of Oando

Asset Overview 23 Teamwork Respect Integrity Passion Oando Rig Type Date of Purchase Swamp / Barge 2007 Swamp/ Barge Swamp/ Barge Swamp/ Barge 2007 2007 Application Normal Drilling Normal Drilling High Pressure, High Temperature Wells Operating Pressure Rating 10,000 psi Horse Power Drilling Depth Status Day Rate 3,000 25,000 ft Available for immediate contracting Similar rates expected 10,000 psi 3,000 25,000 ft Under contract with Chevron Low $80,000s 15,000 psi 3,000 30,000 ft 2009 Cantilever Rig - Normal Drilling 10,000 psi 3,000 25,000 ft Available for immediate contracting Similar rates expected Under contract with SPDC Low $90,000s Expected Timing 2016 Contracted 2016 A Contracted

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