3/17/1983 - OffShore OnAllAccounts (OOAA) - CORPORATE ANNOUNCEMENT

OffShore OnallAccounts (OOAA) has been contracted to build 11 offshore oil rigs for various oil companies over the next two years. OOAA has stepped up its marketing efforts with oil companies in order to use addtional capacity for rig building that the Company has developed.

About OffShore OnAllAccounts (OOAA):
OffShore OnAllAccounts (OOAA Oil) provides offshore contract drilling services through a fleet of mobile rigs. The company uses mostly jack-up rigs but also has semisubmersibles and ultra-deepwater drillships that can drill to depths of more than 7,800 ft. OOAA Oil’s fleet is deployed mainly in the Gulf of Mexico, the North Sea, and offshore West Africa. OOAA Oil also is a provider of offshore turnkey drilling services. In addition, the company has its own oil and gas exploration activities in the Gulf of Mexico.