King & Spalding Advises GulfCap in US$446 Million Acquisition of Dalma Drilling Services

DUBAI, UNITED ARAB EMIRATES--(Marketwire - July 30, 2007) - King & Spalding, a leading international law firm, represented GulfCap Group Limited in its US$446 million acquisition of Dalma Energy LLC.

Dalma is a drilling service company wholly owned by Aabar Petroleum Investments Company PJSC, a public joint stock company listed on the Abu Dhabi Securities Market. Dalma currently operates 22 land rigs in Algeria, India, Oman, Qatar and Saudi Arabia.

The King & Spalding legal team involved in the transaction was led by partner Jawad Ali and senior associate Wael Wahbeh, both of the Dubai office. They were supported by counsel Maria Vargas of the Houston office and senior associate Patrick Campos of the Dubai office.

"We are honored to have represented GulfCap on this acquisition, which represents but the first step in its ambitious program of energy-related acquisitions," Ali said.

Philip Weems, the managing partner of King & Spalding's Dubai office, added: "The Dalma Energy acquisition is the fifth major transaction that the King & Spalding Dubai office has closed for our clients in just the past six weeks. These transactions, which have a total value in excess of US$1 billion, include key deals in Bahrain, Saudi Arabia, Dubai and Abu Dhabi -- two of which involved providing advice to our clients in successful competitive tenders."

About King & Spalding

King & Spalding is an international law firm with more than 800 lawyers in Atlanta, Charlotte, Dubai, Houston, London, New York, Riyadh (affiliated office) and Washington, D.C. The firm represents half of the Fortune 100, and in a Corporate Counsel survey in August 2006 was ranked one of the top ten firms representing Fortune 250 companies overall. For additional information, visit www.kslaw.com.

Contact Information: Contact: Les Zuke King & Spalding 212.827.4392