Northern Offshore Announces New Contract Award for Jackup Energy Enhancer

Northern Offshore, Ltd. announced that its subsidiary, Northern Offshore U.K. Ltd., was awarded a contract with Ithaca Energy (UK) Limited (“Ithaca”), a subsidiary of the Canadian independent oil and gas company Ithaca Energy Inc., for the jackup Energy Enhancer. The one well tie back and completion program in the Jacky Field, Inner Moray Firth, is expected to begin mid-March 2009 and run approximately 20 days, excluding mobilization and demobilization time. The estimated contract value is approximately US$3.6 million, including US$1.6 million in fees for mobilization and demobilization of the rig. Following the Ithaca work, the Energy Enhancer, currently located in the U.K. North Sea, is contracted for a one well program with Centrica Resources Limited, which is anticipated to conclude in mid-to-late May. Northern Offshore is marketing the rig for work following the Centrica program.

Northern Offshore U.K. Ltd. General Manager John Monks said “We are delighted that Ithaca has selected Northern Offshore for this program and pleased to further broaden our customer base in the North Sea with this new client.”