Scorpion Offshore Ltd. (OSL:SCORE) -Contract Status Update

Scorpion Offshore Ltd. (OSL:SCORE) HAMILTON, BERMUDA - 20 January 2009

Scorpion Offshore Ltd. ("Scorpion" or the "Company") would like to provide an updated fleet contract status - please see attached table.

Highlights include the following: * The Offshore Courageous began its 3 year contract with Shell Malaysia today. This contract start was delayed by approximately two weeks due to the late arrival of the hevi-lift ship in Dubai. * The Offshore Resolute was at zero dayrate for 19 days during the fiscal 2nd quarter due to a catastrophic failure of the drawworks coupled with replacement parts importation delays due to the airport strike in Thailand in November 2008. * The Offshore Intrepid, currently being constructed at Keppel AmFELS in Brownsville, Texas, will be delivered this Saturday, 24 January 2009.

In summary, four of the Company's jackups are now operating and the fifth and sixth jackups now have firm contracts in place which will occupy them into mid-2012 and 2013. The Company's last jackup, its seventh jackup, the Offshore Mischief, will not be delivered until December 2009. As a result of these contracts, the Company's firm contracted revenue backlog totals $885 million averaging more than 2years backlog per jackup rig.

Scorpion Offshore Ltd. is a Bermuda based corporation founded in 2005 to own and operate state-of-the-art offshore drilling rigs.

Contacts:

Jon Cole, President and CEO (713) 728-6100 Mark Mey, SVP and CFO (713) 728-6100 www.scorpionoffshore.com



This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.



LINK: http://hugin.info/136299/R/1283670/287451.pdf

Scorpion Offshore Ltd.

http://www.scorpionoffshore.com

ISIN: BMG786761061

Stock Identifier: XOSL.SCORE