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UPDATE: Hercules Offshore Encounters Well Control Incident On Jackup Drilling Rig Hercules 265

Hercules Offshore (NASDAQ: HERO) today announced that it is experiencing a well control incident on jackup drilling rig Hercules 265, a 250' mat-supported cantilevered unit. Efforts are ongoing to regain control of the natural gas well. At this time, all personnel on board have been evacuated and are being transported to a secure location.

The rig is currently operating for Walter Oil & Gas Corporation in the U.S. Gulf of Mexico OCS lease block South Timbalier 220. All necessary governmental authorities have been notified of the incident

"Our first and foremost concern is for the safety of all personnel aboard our drilling rig and we have taken every necessary precaution to safely evacuate the rig. Furthermore, efforts are ongoing with our client, Walter Oil & Gas, to mobilize the necessary resources to regain control of the well and minimize any potential impact on the environment," said John T. Rynd, CEO and President of Hercules Offshore.

About Hercules Offshore

Headquartered in Houston, Hercules Offshore, Inc. operates a fleet of 40 jackup rig, including two Keppel FELS Super A high-specification, harsh-environment jackup rigs, and 24 liftboats. The Company offers a range of services to oil and gas producers to meet their needs during drilling, well service, platform inspection, maintenance, and decommissioning operations in several key shallow water provinces around the world. For more information, please visit our website at http://www.herculesoffshore.com.

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