Tuesday, December 14th, 2010 - Vantage
Vantage Drilling Company ("Vantage" or, the "Company") (NYSE Amex: VTG.U) (NYSE Amex: VTG) (NYSE Amex: VTG.WS) is pleased to announce that the ultra-deepwater drillship, the Platinum Explorer, has set sail from Singapore and is currently enroute to India to commence a five year contract with Oil & Natural Gas Corporation Limited. The Platinum Explorer is expected to arrive in India on December 16th where it will clear customs before mobilizing to its first drilling location.
Vantage, a Cayman Islands exempted company, is an offshore drilling contractor, with an owned fleet of four Baker Marine Pacific Class 375 ultra-premium jackup drilling rigs and one ultra-deepwater drillship, the Platinum Explorer. Vantage's primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells. Vantage also provides construction supervision services for, and will operate and manage, drilling units owned by others. Through its fleet of eight owned and managed drilling units, Vantage is a provider of offshore contract drilling services globally to major, national and large independent oil and natural gas companies.
The information above includes forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements are subject to certain risks, uncertainties and assumptions identified above or as disclosed from time to time in the company's filings with the Securities and Exchange Commission. As a result of these factors, actual results may differ materially from those indicated or implied by such forward-looking statements.
Paul A. Bragg
P: (281) 404-4700
Vantage Drilling Platinum Explorer