BARDEX RIG SKIDDING AND RESTRAINT SYSTEM

GOLETA, California, U.S.A., February 17, 2010

Bardex Corporation is pleased to announce that it has been awarded a contract by a major offshore oil contractor for a hydraulic rig skidding and restraint system for use on an offshore oil platform in the Gulf of Mexico. The platform is located in 4,500 feet of water and began oil and gas production in January 2005.

The Bardex skidding and restraint system will comprise two 600 te push-pull hydraulic gripper jack assemblies for skidding the Drill Floor and two 1,148 te push-pull hydraulic gripper jack assemblies for skidding the Skid Base. All hydraulic grippers also include restraint capability to prevent movement in the longitudinal-skid beam direction. In addition, Bardex will design and supply lateral and vertical restraints for installation at each footing of the Drill Floor and Skid Base, having capacities to react as much as 1,140 te multi-directional forces at any foot. The parking restraints are designed to hold 100 year hurricane wind loading. The Bardex system is controlled by a single free standing control console for operation of the gripper jack assemblies and the horizontal and vertical restraints.