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Aker Arctic to Design Drillship Enhancements

Maritime Activity Reports, Inc.

March 24, 2006

Frontier Drilling USA Inc, Houston, has engaged Aker Arctic of Helsinki, Finland to proceed with the initial design and conceptual development of the modification work for their turret moored Drillship Frontier Discoverer. The work includes development of a modified hull form and protection to the riser to suit the harsh environment of the Beaufort Sea. Aker Arctic will also conduct a series of ice model tests in their brand new model testing facility. Simultaneously an ice management plan, involving several icebreakers will be developed. Frontier Drilling's target is to provide suitable equipment to the industry looking for drilling opportunities in the Beaufort & Chukchi Seas as well as all other arctic regions. Based on the documentation to be developed by Aker Arctic, Frontier Drilling's intention is to approach the leading conversion yards for the upgrade and modification work of the vessel later this year.

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