Vantage Drilling Company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net income of $6.8 million or $0.05 per diluted share compared to a net loss of $4.6 million or $0.06 per diluted share for the three months ended September 30, 2008. Revenues for the third quarter of 2009 were approximately $36.4 million. Income from operations was $9.7 million compared to loss from operations of $5.4 million for the same quarter a year ago. Income before income taxes was $7.9 million compared to loss before income taxes of $5.2 million for the same quarter a year ago. For the nine months ended September 30, 2009, the company reported net income of approximately $13.1 million or $0.13 per diluted share compared to a net loss of approximately $3.9 million or $0.07 per share in the prior year. Revenues for the nine months ended September 30, 2009 were approximately $72.9 million. Income from operations was $19.3 million compared to loss from operations of $8.1 million for the same period a year ago. Income before income taxes was $15.6 million compared to loss before income taxes of $4 million for the same period a year ago. Net cash used in operating activities was $6.1 million and additions to property and equipment of $200.1 million compared to net cash used in operating activities of $2.4 million and additions to property and equipment of $108.4 million for the same period a year ago.

Vantage Drilling Company, Q3 2009 Earnings Call, Nov-09 2009

Vantage Drilling Company announced the signing of a letter of intent for a drilling contract for one of its ultra-premium jackup rigs. The award is for a four well program in West Africa with an estimated duration of five months commencing in December 2009. The operator will also have options for two additional wells. The estimated revenue over the initial term of the contract is approximately $17.3 million.