News Release 2007

NEWS

News Release 2007

2007-11-13 "HAKURYU-5" started drilling operations in the Philippines

"HAKURYU-5" started the drilling operations of 1 well for Japan Petroleum Exploration Co., Ltd. offshore Cebu Island, Philippines following its drilling operations in Japan.

2007-11-11 Launching Ceremony of New Jack-up Rig "Hakuryu-10"(to be named)

JDC celebrated the launching ceremony of the new jack-up rig "Hakuryu-10"(to be named) after completion of the assembly works of the hull blocks at PPL Shipyard, Singapore.

2007-11-09 Safety Record by Naga 1

NAGA 1 has achieved 2,400,000 manhour No-LTI(Lost Time Incident) during the period from Jun. 6, 2000 until Oct. 5, 2007.

2007-06-27 "HAKURYU-5" started drilling operations in Japan for the first time in a decade

"HAKURYU-5" started the drilling operations of 1 well for Teikoku Oil Co., Ltd. offshore Kita Ibaraki, Japan. This is the first operations for JDC in Japan in the last decade.

2007-06-27 JDC Announced Election of Its Board of Directors

JDCannounced that eleven directors were elected at the 39th Annual General Meeting of Shareholders held on June 27. M/s Minoru Murata, Akio Kawase, Yuichiro Ichikawa, Noritada Takizawa, Hideto Takahashi, Fumio Okabe, Kyosuke Furukawa, and Hiromitsu Yamamoto were re-elected. M/s Munekazu Makioka, Toshio Harada, and Hiroo Kiyokawa were newly elected. At the Board of Directors Meeting, the following persons were appointed as follows:

Minoru Murata:President and Representative Director
Akio Kawase:Representative Director and Senior Managing Executive Officer
Yuichiro Ichikawa:Representative Director and Senior Managing Executive Officer
Noritada Takizawa:Director and Managing Executive Officer
Hideto Takahashi:Director and Managing Executive Officer
Munekazu Makioka:Director and Managing Executive Officer
Hiromitsu Yamamoto:Director and Executive Officer
Toshio Harada:Director and Executive Officer
Fumio Okabe:Director(External)
Hiroo Kiyokawa:Director(External)
Kyosuke Furukawa:Director(External)

2007-05-24 JDC Reported Fiscal Year 2006 Results

JDC announced net income of US$11.3 million for the fiscal year 2006 ended March 31, 2007 on total revenue of US$77.4 million. Net income decreased by 12.1% compared to US$12.8 million in 2005, while total revenue rose by 22.4% compared to US$63.3 million in 2005. Ordinary profit was US$ 17.7 million increased by 12.5% compared to US$15.7 million in 2005.(Converted at JPY116.98/US$ for the fiscal year of 2006) .