Prospector Offshore Drilling :PR-85 PROS Announces the appointment of a new Chief Financial Officer

PROS - Announces the appointment of a new Chief Financial Officer

Luxembourg, 10 July 2013:  Prospector Offshore Drilling S.A. (the "Company" or "PROS") announced today the appointment of Eduardo "Eddie" Vargas as the Company's Chief Financial Officer, effective immediately.  Mr. Vargas joined the Company in May 2012 and had most recently served as the Company's Controller.  Prior to joining the Company, Mr. Vargas was Manager of Financial Planning and Analysis for Seahawk Drilling.  He has twenty years of experience with publicly listed integrated oilfield service and manufacturing companies.  Mr. Vargas holds a B.B.A. in accounting from the University of Houston.  

Robert W. Rose, the Company President and Chief Executive Officer, commented today:  "Since joining the Company in May of last year, Eddie has proven to be a valuable member of our financial and management teams.  His leadership and managerial skills will be a tremendous asset as we continue to build the capital structure of the Company".

About the Company:

PROS is a high specification jack-up drilling contractor.  PROS currently has contracts in place for the design, construction and delivery of six JU2000E high specification, harsh environment ("HS/HE") jack-up drilling rigs.  PROS also has option agreements for the construction of three additional rigs of the same design.  Upon deployment of its rigs, 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.

For further information, please contact:

Contact:

Robert W. Rose

Chief Executive Officer

Prospector Offshore Drilling S.A.

Tel: [phone]

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Source: Prospector Offshore Drilling via Thomson Reuters ONE

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