Contact Information: Public & Investor Relations Contact: Paul A. Bragg Chairman & Chief Executive Officer Vantage Energy Services, Inc. (281) 404-4700
Vantage Energy Services, Inc. to Conduct Investor Call
| Source: Vantage Energy Services, Inc.
HOUSTON, TX--(Marketwire - September 11, 2007) - Vantage Energy Services, Inc. ("Vantage")
(AMEX : VTG.U ) (AMEX : VTG ) (AMEX : VTG.WT ) today announced that it will
conduct an investor call at 10:00 AM ET tomorrow, Wednesday, September 12,
2007 to discuss the transaction by which it will acquire four Baker Marine
Pacific Class 375 ultra-premium jackup drilling rigs (the "Rigs") plus an
option to acquire an ultra deepwater drill ship (the "Transaction"). To
access the conference call, U.S. callers may dial toll free (866) 814-1917
and international callers may dial (703) 639-1361. Callers should
reference password "Vantage" ten minutes prior to the start time. A replay
of the conference call will be available for one week following the call
and can be accessed by dialing (888) 266-2081 for U.S. callers and (703)
925-2533 for international callers. The access code for the replay is
278838.
As previously announced, Vantage has signed a definitive share purchase
agreement in connection with the Transaction pursuant to which it will
acquire all of the shares of common stock of Offshore Group Investments
Limited ("OGIL"), a Cayman Islands registered company and wholly owned
subsidiary of F3 Fund. F3 Fund is affiliated with TMT Global, a Cayman
Islands registered company. The Rigs are being constructed in Singapore
for delivery and sale to OGIL. Under the terms of the share purchase
agreement, Vantage will change its domicile from Delaware to the Cayman
Islands.
Vantage will file a Current Report on Form 8-K with the Securities and
Exchange Commission, attaching thereto the slide show presentation that
Vantage expects to use in investor presentations to describe the
Transaction and the Rigs to be acquired and operated by Vantage, assuming
that the stockholders of Vantage approve the Transaction and the related
matters.
Forward-looking Statements
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995, about Vantage,
OGIL and their combined business after completion of the proposed
acquisition. Forward-looking statements are statements that are not
historical facts. Such forward-looking statements, based upon the current
beliefs and expectations of Vantage's and OGIL's management, are subject to
risks and uncertainties, which could cause actual results to differ from
the forward looking statements. The following factors, among others, could
cause actual results to differ from those set forth in the forward-looking
statements: the failure of Vantage's stockholders to approve the share
purchase agreement and the transactions contemplated thereby; the
successful completion of debt financing; the number and percentage of
Vantage's stockholders voting against the acquisition; changing
interpretations of generally accepted accounting principles; relocation of
Vantage's home jurisdiction; continued compliance with government
regulations; legislation or regulatory environments, requirements or
changes adversely affecting the business in which OGIL is engaged; demand
for the products and services that OGIL provides; construction delays and
cost overruns; cyclical business and lack of diversification; general
economic conditions; geopolitical events and regulatory changes, as well as
other relevant risks detailed in Vantage's filings with the Securities and
Exchange Commission. The information set forth herein should be read in
light of such risks. Neither Vantage nor OGIL assumes any obligation to
update the information contained in this press release.
Additional Information and Where to Find It
In connection with the proposed acquisition and required stockholder
approval, Vantage will file with the Securities and Exchange Commission a
proxy statement which will be mailed to the stockholders of Vantage.
Vantage's stockholders are urged to read the proxy statement and other
relevant materials when they become available as they will contain
important information about the Transaction. Vantage stockholders will be
able to obtain a free copy of such filings at the Securities and Exchange
Commission's internet site (http://www.sec.gov). Copies of such filings can
also be obtained, without charge, by directing a request to Vantage Energy
Services, Inc., 777 Post Oak Blvd., Suite 610, Houston, Texas 77056.