Scorpion Offshore is led by an experienced management team dedicated to customer service and emphasizing safety and operational excellence. With its fleet of ultra-premium jackup offshore drilling rigs, Scorpion will seek contracts globally with customers who demand a higher level of service and performance. The Company is currently constructing five ultra-premium LeTourneau Super 116 jackup rigs at the KEPPEL AmFELS, Inc. shipyard in Brownsville, Texas. Delivery of the rigs begins in May 2007, and continues through October 2007, March 2008, June 2008 and November 2008 respectively. Scorpion Offshore will utilize the experience of its people and its ultra-premium rigs to attract customers who demand the highest level of safety and operating performance. Marketing efforts will be directed toward both U.S. and international customers with longer term drilling programs.