Luxembourg, 11 April 2012 -- Discovery Offshore S.A. 
("Discovery Offshore" or the "Company") announced 
today results for the fourth quarter and full year 
2011, which covers the period from 1 October 2011 
through 31 December 2011 and 12 January 2011 through 
31 December 2011, respectively. During this fourth 
quarter period, the Company reported a net loss of 
USD 0.6 million, or USD 0.01 per fully diluted share. 
For the full year period, the Company reported a net 
loss of USD 8.5 million, or USD 0.14 per fully 
diluted share.

The full report and financial statements for the 
Company's fourth quarter and full year 2011 financial 
results are available at www.newsweb.no and 
www.discoveryoffshore.lu.

Discovery Offshore is a Luxembourg-based public 
limited liability company incorporated on 12 January 
2011 for the purpose of owning new ultra high 
specification jackup drilling rigs. The Company's 
main assets are two Keppel FELS Super A high 
specification harsh environment jackup rigs currently 
under construction, with delivery scheduled for the 
second quarter and fourth quarter of 2013, 
respectively.  

For additional information about Discovery Offshore 
S.A., please visit our website at 
www.discoveryoffshore.lu 

This press release contains forward-looking 
statements that involve risks and uncertainties.  You 
are cautioned not to put undue reliance on forward-
looking statements because actual events and results 
may differ materially from the expected results 
described by such forward-looking statements.  
Discovery Offshore S.A. disclaims any obligation to 
update and revise any forward-looking statements, 
whether as a result of new information, future events 
or otherwise.

Contact:
Son P. Vann, CFA
Tel: (713) 350-8508
svann@herculesoffshore.com

Joost A. Mees
Discovery Offshore S.A.
46A, Avenue J.F. Kennedy
L-1855 Luxembourg
352 42 71 71 1
discovery@tmf-group.com