Title XI Funding
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Marine Log

May 8, 2007

Blake to build multi-service jackups

Blake Drilling & Work Over Company, Inc. (a Blake Offshore, LLC affiliated company) COO Paul Butler says the company will build two self-propelled, multi-service jackup vessels.

These well servicing and side tracking units, designed by Zentech, Inc. of Houston, Texas, will complement Blake's existing fleet operations in the Gulf of Mexico and facilitate entry into international markets.

The vessels will be the first of their type designed and built specifically to theABS, USCG and IMO "MODU" specifications. The units. They will be classed as Self Propelled, Mobile Offshore, Jack Up Well Servicing Units (MODU Classification).

Blake says that "these rigs are quite distinct from 'Liftboats,' and greatly exceed the capabilities of rigs operating in existing liftboat fleets. Construction is scheduled to start mid-third quarter of this year.

Blake Drilling & Work Over Company, Inc., along with other Blake affiliated companies, is headquartered in Metairie, Louisiana.

The companies provide offshore drilling, completion and workover services, and are the only provider of Mobile Offshore Production Units (MOPUs) in the U.S. Gulf of Mexico.

The Blake companies operate a diverse fleet that includes four offshore drilling jackups, three mobile offshore production units and one self propelled completion and workover jack up unit.