Annurl f ndMdurl Fo{ormrno Asrmrncnt

Exhibit No. Worldwide Court Inc.

targqtfor Deliver DD/10k andAppnical raollsOlqCi tafget of64 r DeliverTB3wdl beforeMay 8thallowihg (Ashtd Febfipl earfyrelease OcernConfidence of . Delirner Kaskida in bs thrn 110ftYs lAcatrl 89.E slt drrnl

All rhre E&A wells completed to date in 2008 rarere delivered significandy ahead of schedule: Actutl P1rln

KingSouth tDevWelll Kaskida o/t2

27 49

46 5

TB3arrdKodiak were bothtop quartilewellsbasedon GOMbenchmarks.

Plan strivefor aro injuries environmental lmplement D&CHSE and ireidenswith focuson: tnd c Sefeed sfilcbnt drrt tn's of narvrigo;RounnBobPalmcr Tranroocan and Spirit r LeadD&C. and pbn Dtoppad Oliece fr$orlqrcup lrtpfemcnt improrrement DO

good,elthougt not incidBnt:free. has,been Safetyperformance Therehavebaen4 reogdableincidente wglleihvetttigated hssonsleamed all of 'ttramrelativef rnirc-r.All incidants and shared acrqss lfie have goneextremely SPU. There beenzarospilb.Thetwo newrigstsrt upshava raere wall.There duringthe srtirapirritprqgrarn the BobPeJmer hadtwo relativety zeroincldents and he$ minr reosrdabla incidents. Ocean The Cinfidence rebased was sefuV witnno incidents during 20Wpdorto release. I havevisitBd rig cverymontfithis yearand.made a satotymy top priorityon $ese vlsits. I have lrcrked clsselywith the Operatbns Menagers Transocean, at Diamond Rowan ensure and to that our and ssfetyexpectations clear thattheyarein no doubtthattheyareaccountable implemcnt are to theirSMStullyon theirrigs. Dropped SPU imtrroved.significontly 16s1:yeer. a frlectsperformancs acrssg,thc has from with DO:sandzoroHighPotontial significant in:total drop dropped obiects dats.TheDOworkgreqp to has met:ona quarterty baslsandactionphn implcmantatiOOontrack. is
hrdretr Thisfom erf,ixldlt ad&,twti,P,W wd .in Mqrfpft Wsrd. Yepte not tuitad fu ihe,sbc of tlr buff.

CONFIDENTIAL

BP-HZN-21 7eMDLo484838 1

performanceDrivecontinr.pus DEIC improvement cgnsistoncy progrem and of delivery atlluells sn; deliversd timo,Focus on o fu? exacdiono<cellqnce ' Rigprous standardi4ed planning and . Feducing by 10% to 4] % with a phn to improwrig downtime, NPT downhole foitrres tool problerns: NPTin2007we6tls% ineluding anddownhole E&A WoW.

pdformrnce.Thc norv A CIPuna dcvclopod E'&A rcriongtakcn to ddher lmprored bl and orgnniratirnhar drivenfocut on rig aitc exccution cxccllcnec. Enndeaof GlPdiomare:
o . . r r r . . r liner Standarisgd of exgandable hangers use 8iggrqJ6eudl.t OA'QC do\^riholetool6{full DEIPcEmdhnceon Ksskidal md of Progneooim MPo application Wil K on Progrcssirtg DigltrlBOFtsting on the Horhon- Pilotr(i, Focuson 49 downting - rig auditsperformedon dl rigsandacrioos beingtrrcked.Workingwith Transocorn identifycrit cal maintenance rnaking to and timc troperform. with \AlorkinE Smithto improvacutter opplioction Rhino on Rccmcr Asseseing rltgrnstives the RR. to Focuson vibntiotr Fngnitot ndoptimsing ponotrution - exo6llEnt ing nta rcentddllirE pedorrnance end thrcWhrhoFln on Kaskida Frpedorrr for Working bit designs the sloyy on ROPseenin Kodiak e)eectod Wl K. ard in

We harp deo dqehped e rtendardized Well Opcrationc Pfdt br l[/V Elploiltkon and Appr|is.l. Thi8 implGdicflt willalltxr rnio ffir beet pratt'rccoan<ldriveeontitruoss lc*ningf,un wentorxdt.

RedoccE&Arig varieble costsby F.10%- with focuson the Horhon: spread r Trhe acfionto crealea cultureof arc]ry$ mrtters

I Conductlng full revicw of achrcl cq.stson Kodbk w.ellto target !.sas ol inetticiencf, lhisf&.rm*pc&s'lttafi',ticl,ht*furgsadinMixwoftt&td, Ywo,arratlhniFd,0ytlaoie.offieborw.

CONFIDENTIAL

BP-HZN-2 179MDL048483e 1

pFffOrman6e Obictiws.Becant+Ximpbr I hw osur,sd co# aropft of dl diraussigrrs that around ild g'ognm rt Krckida!o ensurecfitipl dgtt obtsinedcosteffect!\,|ly. incltd the comproniscon loggtng

Fully exernally rssureall E&Awclls

All E&Awellsl,vere by Dritling E)(cellne externalv acsured rheEPTG te8rn: wellsto datreceind full All Eupport fram,tbr rcvisw tilh3,

Makatd,gh dasisions srethsm lhrgwh and exarples inelude;'lB3W"ll roadyto spud. holdingoff rcceptingrh SBirituntil ws v{er ready,drivingthroughtho optionto use the Marianas Kodiak. at FostrEffec{htetmwort end colbboratbninclude: xemples dewlopingrplstionshiBs with tbe Asssettms,building niw E&A tha organisrtbndospiteths hck of support{rorn withintho Assets,mahngsometoughpeopte declsions

simplWandredVOQ em committedto thig boheviour,lrdwe llev but madeprogre$s, lleel I mulddo moreto pu5hbackandehialtftrc t3.rn frDm complexity, unneces$ary

fhb {ola f,lpird/s sutomattcally h usadin Mrtosofl ttvord. Yw.sic not linhdd bv the she of the bx6. wt

CONFIDENTIAL

BP-HZN-2 79MDL01484840 1

l*m veryplcesed with progressso frr this loar"wrthin E&A"W havesucces'sfulty dcliveredeor|c very tough ulls, whilagoirtgtluougha signifioant organisetbn chcnge. frel my skille competenciss a leadcr I rnd os hEva helped deli\r th'Fpertormaneortnd to havetrelped to fuild the ngw D&C:tcam.

Racord the individuel pgrtormence rating,once,celibrated and finelised, At ,a,minimutn, eomplience with the Code of Qorduet, Leadership Framework (for FLLs aod lborrel and ,othcr applicaHcGroup Stsndardsls requiredto be rstcd rt ME orabow.

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pulue ornpldad bm phse r*e acqpyblourcorglbr,fid |tthccrd oftllt Far Orce thr Ufi - Your [&n4r dtodd lirc rrrd $ir trm b thctttyflR SailbcCcrilr, Gleqord hrsirooorl.out@epftnet, pu m ilre opfqg a3 ernd,Thb {it ttq| b3|lcor{trd ootlpllt3 Propb$dl HR tin {n llhe fy$n of'iloorrl) U8-Conbdpr HR l4anlgcrtocarfum{drec fonnffrodd ltp bcdh.d yaurmtfft+edf,sprgclfiea ltbi{orrtd /er HRrtrrrrgot corfirm b ffifT- ffib put Linc

Thisfura'J1ipcr!d6tttt(Elatfu,,ltyv*s)w'dnMorwoftl$od.

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CONFIDENTIAL

BP-HZN-2 79MDL01484841 1

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CONFIDENTIAL

BP-HZN-21 7eMDL0 484842 1