PROS - Disclosure of Primary Insider

9/18/2012 2:56 PM EST

PROS - Disclosure of Primary Insider

Luxembourg, 18 September 2012: Prospector Offshore
Drilling S.A. (the "Company" or "PROS") -
Reference is made to the press releases of yesterday
(17 September 2012) and earlier today as well as the
press release of today announcing the completed
private placement of a total of 36,000,000 shares of
the Company.  Robert W. Rose, CEO and director of the
Company, has been allocated 255,000 shares, at NOK
9.50 per share, in the private placement through an
affiliated shareholder, Rose Family Trust.  Following
the completed private placement, Mr. Rose holds
1,300,000 shares and stock options exercisable
(subject to vesting conditions) for 2,100,000 shares
in the Company.


About the PROS:
PROS is a high specification jack-up drilling
contractor.  PROS currently has contracts in place for
the design, construction and delivery of six F&G
JU2000E high specification, harsh environment (HS/HE)
jack-up drilling rigs with deliveries commencing in
the first quarter of 2013.  PROS has option agreements
for six additional rigs of the same design.  Upon
deployment, 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.


Contact: 
Steven A. Manz 
Chief Financial Officer 
Prospector Offshore Drilling S.A. 
Tel: +1 281 560 8010