Vantage Drilling Company Announces Consent Solicitation by Its Subsidiary Offshore Group Investment Limited in Connection With Its 11 1/2% Senior Secured First Lien Notes Due 2015

Vantage Drilling Company (NYSE:

) today announced that its wholly-owned subsidiary Offshore Group Investment Limited has commenced a solicitation of consents from holders of its 11 1/2% Senior Secured First Lien Notes due 2015. The Consent Solicitation will expire at 5:00 p.m., New York City time, on March 30, 2012, unless otherwise extended (such time and date, as may be extended, the "Expiration Date"). Adoption of the proposed amendments requires the receipt of valid and unrevoked consents from holders of more than a majority in aggregate principal amount of the Notes (other than any Notes owned by the Company or any of its affiliates) (the "Requisite Consents"). A consent can be revoked prior to the earlier of the receipt of the Requisite Consents or the Expiration Date (such time and date, as may be extended, the "Revocation Deadline"). Subject to the terms and conditions of the Consent Solicitation, the Issuer expects to pay, on the closing date to each holder of Notes that consents to the proposed amendments, on or prior to the Expiration Date, a fee equal to $10 in cash for each $1,000 in principal amount of the Notes (the "Consent Fee"). Payment of the Consent Fee is conditioned on the receipt of the Requisite Consents, among other things.