Information  X 
Enter a valid email address

Ocean Rig (0JD5)

  Print   

Friday 11 April, 2008

Ocean Rig

Primary insider transaction





Stavanger, Norway

Blue Concept AS, a company controlled 100 % by Geir Aune, Chairman of
the Board of  Ocean Rig  ASA, has on  April 10,  2008, rolled-over  a
forward contract  earlier disclosed  by stock  exchange notice  dated
January 11, 2008.  Under the forward  contract, as rolled-over,  Blue
Concept AS will purchase 1,200,000 Ocean Rig shares at a price of NOK
49.93 on July 9, 2008.

Following  this  transaction  Geir  Aune  and  related  parties  owns
1,251,965 shares,  holds  700,000 options  in  Ocean Rig  and  has  a
forward contract to buy 1,200,000 shares.

Ocean Rig  owns and  operates two  of the  world's largest  and  most
modern drilling rigs, built for ultra deep waters and extreme weather
conditions. The  units are  currently  operating in  the US  Gulf  of
Mexico and in the North Sea.


NOTE: This press release contains forward-looking statements  (within
the meaning of  Section 27A of  the United States  Securities Act  of
1933, as amended,  and Section  21E of the  United States  Securities
Exchange Act of 1934, as amended) which reflect the Company's current
views  with   respect  to   certain  future   events  and   financial
performance. Actual  events or  results  may differ  materially  from
those projected  or implied  in such  forward-looking statements.  We
undertake  no   obligation  to   publicly   update  or   revise   any
forward-looking statements, whether as a result of new information or
otherwise.  The following important factors, among other, could cause
actual results to differ materially  from those projected or  implied
in any forward-looking statements: (i)  our results of operation  and
financial conditions  in the  future; (ii)   the  performance of  our
rigs, including the sufficiency of their design and their ability  to
prevent discharges of hazardous  materials and pollutants; (iii)  our
ability to generate  sufficient cash-flow  to meet  our debt  service
requirements; (iv)  our  ability  to retain  existing  contracts  and
secure future  drilling  contracts for  our  rigs at  attractive  day
rates; (v) our ability to  perform our operations in accordance  with
our plans; (vi) the impact of  changed conditions in the oil and  gas
industry; (vii) the occurrence of any accidents involving the Company
or  its   assets;  (viii)   changes  in   governmental   regulations,
particularly with respect  to environmental  matters; (ix)  increased
competition or  the  entry  of new  competitors  into  the  Company's
markets; and (x) unforeseen occurrences in any of the areas in  which
the Company may conduct its  operations, such as war,  expropriation,
nationalization, renegotiation or nullification of existing  licenses
or treaties,  taxation  and resource  development  policies,  foreign
exchange restrictions, changing political conditions and other  risks
relating to foreign  governmental sovereignty over  certain areas  in
which the Company will conduct operations. Due to such  uncertainties
and risks, investors are cautioned  not to place undue reliance  upon
such forward-looking statements.


For further information, please contact Finance Manager Andreas  Lian
Kvam,
tel (+47) 51 96 90 00

Stavanger, April 11, 2008
Ocean Rig ASA






                                                           

a d v e r t i s e m e n t