News Release 2010

NEWS

News Release 2010

2010-11-12 Drilling Contract with Cairn Lanka Pvt. Ltd. for "CHIKYU"

JDC signed a drilling contract with Cairn Lanka Pvt. Ltd., a subsidiary company of Cairn India Ltd. on November 12, 2010 for the deepwater drillship "CHIKYU". The contract is to drill three (3) firm wells and two (2) optional wells in offshore Sri Lanka, and is scheduled to commence in early July, 2011.

*"CHIKYU" is owned by Japan Agency for Marine-Earth Science and Technology("JAMSTEC").

2010-10-04 Contract Extension for "NAGA 1" from Petronas Carigali

The Semi-submersible rig "NAGA 1", operated by UMW JDC Drilling Sdn. Bhd., an affiliate company of JDC based in Malaysia, has been awarded a modified five-year contract by PETRONAS Carigali Sdn. Bhd., a Malaysian state running oil and gas company.

The original contract of twenty wells extension option has been modified to a new five-year contract effective from late November 2010, after the completing drilling works of firm twenty wells.

The drilling works with modified contract commence in direct continuation of the rig's current contract. The contract value is approximately US$ 250 million.

2010-09-07 Drilling Contract with Salamander Energy (Bontang) Pte. Ltd. for "HAKURYU-5"

JDC signed a drilling contract with Salamander Energy (Bontang) Pte. Ltd. on September 7, 2010 for the semi-submersible rig "HAKURYU-5". The contract is to drill one (1) firm well in offshore Indonesia. After completing the maintenance work of the rig in Singapore, "Hakuryu-5" will start its drilling operations from around early October 2010.

2010-07-08 Transfer of "Hakuryu-10" to JDC's subsidiary in the Netherlands

JDC, after purchasing "Hakuryu-10" from JDC's subsidiary in Panama, "Hakuryu 10, Inc.", transferred its ownership to its subsidiary in the Netherlands, "Japan Drilling (Netherlands) B.V." by way of capital investment in kind on July 8th, 2010.

2010-06-25 JDC Announced New Member on the Board of Directors

JDC announced that Mr. Kazuo Ito, was newly appointed as a board member at the 42nd Annual General Meeting of Shareholders held on June 25.

2010-06-03 Drilling Contract with Daewoo International Corporation for "HAKURYU-5"

JDC signed a drilling contract with Daewoo International Corporation on June 3rd, 2010 for the semi-submersible rig "HAKURYU-5". The contract is to drill four (4) Firm wells and one (1) Optional well offshore Sittwe in Myanmar.

2010-05-14 JDC Reported Consolidated Results for Fiscal Year 2009

JDC announced its consolidated net income of JPY10,042 million for the fiscal year 2009 ended March 31, 2010 on consolidated total revenue of JPY 36,596 million. Consolidated net income increased by 186.6% compared to JPY3,503 million in 2008, while consolidated total revenue rose by 72.9% compared to JPY 21,168 million in 2008.

2010-03-02 Establishment of a Subsidiary in the Netherlands

JDC established its wholly-owned Subsidiary , "Japan Drilling (Netherlands) B.V." in the Netherlands on March 2nd, 2010, prior to commencement of the drilling operations offshore Spain for Cobra Castor.

2010-01-21 Drilling Contract with OAO Gazprom for "HAKURYU-5"

JDC signed a drilling contract with OAO Gazprom on January 21st, 2010 for the semi-submersible rig "HAKURYU-5". The contract is to drill one (1) Firm well in the Bay of Bengal in India.