News Release 2006

NEWS

News Release 2006

2006-08-13 Safety Record by Sagadril-1

Sagadril-1 has achieved 500,000 manhour No-LTI(Lost Time Incident) during the period from Nov. 6, 2004 until Aug. 13, 2006.

2006-08-05 Safety Record by Sagadril-1

Sagadril-2 has achieved 300,000 manhour No-LTI(Lost Time Incident) during the period from Aug. 13, 2005 until Aug. 5, 2006.

2006-08-04 Safety Record by Naga 1

NAGA 1 has achieved 2,000,000 manhour No-LTI(Lost Time Incident) during the period from Jun. 6, 2000 until Aug. 4, 2006.

2006-07-20 JDC Appointed President, Senior Managing Directors and Managing Director.

At the Board of Directors Meeting held on July 20th, Mr. Minoru Murata was newly appointed as President and Representative Director while M/s Akio Kawase and Yuichiro Ichikawa assumed duties of Senior Managing Director and Representative Director. Mr. Hideto Takahashi was also appointed as Managing Director.

2006-06-28 JDC Announced Election of Its Board of Directors

JDC announced that two directors were newly elected at the 38th Annual General Meeting of Shareholders held on June 28.

2006-06-26 Deep Seawater Shore Approach completed by HDD

JDC's HDD team has successfully completed a shore line crossing works for pumping seawater from coastal deeper level by drilling and laying pipeline (340mm×240m) through the layers of volcanic rock at the eastern part of Izu, Shizuoka, Japan.

2006-06-12 JDC Reported Fiscal Year 2005 Results

JDC's four rigs achieved 100% utilization in the fiscal year 2005 ended March 31, 2006 under the long term contracts with national oil companies respectively. As a result, ordinary profit was US$ 15.7 million on total revenue of US$ 63.3 million, up by 178.1% and down by 13.9% from the previous year respectively. Net income was US$ 12.8 million, down by 23.6% from the previous year, maintaining black in figure for eleven straight years. (Converted at JPY114.10/US$ for 2005) .