PROS - Announces ex subsequent repair offering today

PROS - Announces ex subsequent repair offering today

 Luxembourg, 19 September 2012: Prospector Offshore Drilling S.A. (the "Company" or "PROS") -

Reference is made to the announcement from the Company on 18 September 2012 regarding the completed private placement. The shares will be traded ex subsequent repair offering as from today, 19 September 2012. 

About the PROS:

PROS is a high specification jack-up drilling contractor.  PROS currently has contracts in place for the design, construction and delivery of six F&G JU2000E high specification, harsh environment (HS/HE) jack-up drilling rigs with deliveries commencing in the first quarter of 2013.  PROS has option agreements for six additional rigs of the same design.  Upon deployment, PROS, under its proven management team, will have the newest fleet of HS/HE jack-up rigs in the world, operating with the most advanced drilling systems available in the industry.

This press release contains forward-looking statements that involve risks and uncertainties.  You are cautioned not to put undue reliance on forward-looking statements because actual events and results may differ materially from the expected results described by such forward-looking statements.  Prospector Offshore Drilling S.A. disclaims any obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

Steven A. Manz

Chief Financial Officer

Prospector Offshore Drilling S.A.

Tel: +1 281 560 8010