International Association of Drilling Contractors

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8:25 am Welcome and Introduction Texas Ballroom V-VII
Dave Faure, Chairman, IADC Contracts Committee; Associate General Counsel, Transocean

8:30 am Don't Take "No" for an Answer: a Policyholder’s Rights when Dealing with a Recalcitrant Insurance Company with Respect to Insurance Coverage: Wayne Pickering, Partner, Fowler Rodriguez Valdes-Fauli
A discussion of recent insurance decisions by various appellate courts in four areas of insurance law of universal interest to policyholders highlight the fundamental rights that a policyholder has with respect to its liability insurance coverage. Included in the presentation will be: (1) developments in the law regarding an insured party's right to a defense where not all allegations in a lawsuit may be covered; (2) the requirement that an insurer must show actual prejudice when it tries to deny coverage on the basis of a failure to receive timely notice of a claim; (3) the limitations on an insurance company's rights to seek reimbursement from its insured of monies paid in settlement where a claim is defended under a reservation of rights letter; and (4) recent developments in the law pertaining to contractual indemnity duties and obligations, both from the perspective of the insurance company and the insured party.

9:15 am Update on Energy Market Place - 2008: Robert B. Hixon, Chairman of the Executive Committee & Managing Director, John L. Wortham & Son LP
The claims that the London market place has sustained in 2008 from blowouts, explosions, and Gulf of Mexico windstorm events coupled with the continuing legacy claims from Rita and Katrina will determine the appetite for capital providers to continue. The higher cost of reinsurance, the higher deductibles, and the reduction in coverage mandate that underwriting disciplines have the premium levels pegged to an adequate return on investment. Additionally the continued pressure to reduce premiums after the increases after 2005 have further strained underwriting groups to have the pricing model in line with return expectations. What is the current state of the market? And how will the market react to current conditions?

10:00 am Coffee Break Texas Ballroom Foyer

10:15 am What English Law Means for the Scope of Your Indemnities & Their Interaction with Insurance Provisions: Jeremy Farr, Partner, Ince & Co.
A discussion of how conduct such as negligence, gross negligence and willful misconduct are dealt with under English Law indemnity provisions, the extent to which indemnities will be enforced, and the traps for the unwary in defining the relationship between contractual indemnity and insurance provisions.

11:00 am The State of Regulatory Affairs: Alan Spackman, Director-Offshore Technical & Regulatory Affairs, IADC
Review of national and international regulatory initiatives impacting MODU operations.

12:30 pm So, You Thought You Had a Valid Indemnity Agreement? Not in Some States: Marvin Moos, Ebanks, Smith & Carlson
Oilfield Anti-Indemnity Statutes in Texas, Louisiana, New Mexico and Wyoming severely restrict the amount and type of indemnity permissible for drilling contracts. Before agreeing to a contract enforceable under the laws of these states, be aware of the risks associated with anti-indemnity statutes. This presentation will highlight the problems and relative risks posed if one contracts in these venues.

1:15 pm Contract in Haste, Repent at Leisure - Agreeing & Drafting Effective Choice of Law & Dispute Resolution Provisions: Peter Cassidy, Partner, Pinsent Masons
Oil & gas developments are carried out across the globe by participants from many different jurisdictions. This creates challenges not least in agreeing the governing law of any particular contract and how disputes are to be resolved.

2:00 pm The Good, The Bad, & The Ugly of Mutual Hold Harmless Agreements: Christopher Evans, Partner, & F. Lee Butler, Partner, Adams and Reese LLP
A brief review of IADC indemnity language to provide context for pros and cons. Provides an overview of positive aspects of mutual indemnity agreement including reduced costs, intangible benefits of cooperation and anticipate and plan for risk and other positives. Negative aspects of mutual hold harmless agreements pay damages even though not responsible, dealing with another party’s claims, no guarantee of resolution - La Anti Indemnity Act, and problems if insurance does not match indemnity. Also includes a brief summary of new cases dealing with mutual indemnity.

3:00 pm The Advent of National Oil Companies: Risks, Opportunities, Idiosyncrasies & Practical Tips on Contract Negotiations & Contract Management: Alex Cestero, Deputy General Counsel, Business Affairs, Derek Anchondo, Kinga Doris, Pride International Inc.
Key background history and statistics on the worldwide NOC footprint, as well as insights through combined experience relating to NOC contract negotiation strategies, cultural and political considerations and overall client and relationship management. Additionally, the presentation provides a rational framework to deal with the continuous cost/benefit analysis drillers must undergo when evaluating short and long term legal and contractual arrangements with NOC’s. Select “war stories” will also be given reflective of the authors’ experiences at Pride and elsewhere.

3:45 pm Going International - the Risks - a Consideration: John Bushell, Vice President International Marketing, Ensign International Energy Services
For a host of reasons drilling contractors consider moving from their home country domestic operation to offering their services internationally. The transition is not an easy one. While opportunities pose a number of challenges, there are considerable issues a prudent contractor must consider and manage the appropriate risks in the tender process and in subsequent formulation of a final contract. The presentation will cover in part the political stability in the operating area, compliance with local regulations, taxation laws, customs protocols and deployment of expatriate personnel and tying these aspects into the contract documentation.

4:30 pm Hoping for the Best, But Planning for the Worst: Remedies in Rig Construction/Shipyard Contracts: Derrick Carson & Philip Eisenberg, Locke Lord Bissell & Liddell LLP
As with the construction project itself, careful consideration up front can save you time and money later on. The time for developing a plan for dealing with your builder's insolvency, delay, or defective construction is not when those unfortunate events occur. It's in the contract drafting stage. This presentation will cover common and "outside the box" remedies, including extra-contractual remedies, which you should consider for your next rig construction or shipbuilding contract.

Welcoming Reception Water Court Room Sponsored by Ebanks Taylor Horne L.L.P.

8:00 am Registration and Coffee Texas Ballroom Foyer Sponsored by Fowler Rodriguez Valdes-Fauli

Ethics, Anti-corruption and the Foreign Corrupt Practices Act

8:30 am Doing Business Ethically Without Going Broke: Practical Aspects of the Foreign Corrupt Practices Act: Mary Shaddock Jones, Assistant General Counsel and Director of Insurance, Global Industries Offshore, LLC
Confused by what is actually required to satisfy the apparent burden of proof embedded in Foreign Corrupt Practices Act? Join the crowd. This presentation will explore the practical aspects with complying with the Foreign Corrupt Practices Act from a corporate point of view.

9:15 am Anti-bribery Provisions for Agent Agreements: Elizabeth Wright, Senior Securities and Compliance Counsel, Brady Long, Pride International Inc.
Review and discussion of the standard anti-bribery provisions in Pride International Inc.'s form agreement with its third party agents. Pride recently developed these form provisions with the assistance of several law firms and entered into approximately 60 agreements with its agents in the last year. The discussion will cover the substance of the provisions, general responses from Pride's agents, suggested alternative language for certain sections and the process by which Pride was able to ensure all its third party agents had entered into agreements with appropriate antibribery language.

9:45 am Coffee Break Texas Ballroom Foyer Sponsored by Fowler Rodriguez Valdes-Fauli

Compliance

10:00 am The Structure and Management of a Global Compliance Program: Mike Munro, Chief Compliance Officer, Transocean
Compliance programs are continuing to be developed based on a wide variety of factors including the U.S. Sentencing Guidelines and input from third parties such as law firms, consultants and government appointed compliance monitors. This presentation will focus on the specific/necessary elements of a global compliance program while emphasizing that fact that how companies develop and communicate their program greatly impacts the perceived and actual effectiveness of the program.

10:30 am International Regulatory Compliance Issues in Drilling Contracts: Thad McBride, Attorney, Fulbright & Jaworski LLP
The U.S. and other governments are vigorously enforcing laws relating to export and import controls, economic sanctions and embargoes, and anti-corruption. Drilling contractors need to understand what their obligations are under these complicated laws, particularly laws imposed by the United States. The presentation will include an overview of certain laws in this area, and highlight contract provisions and other steps drilling contractors should consider to protect against problems.

11:00 am Compliance Panel Moderator: Brady Long, Chief Compliance Officer & Deputy General Counsel, Pride International Inc.
A panel of esteemed experts cover current issues affecting contracts & risk management. Includes compliance training done game show style. It will show participants how field personnel can learn FCPA and actually pay attention.

12:00 pm Adjournment
Dave Faure, Chairman, IADC Contracts Committee; Associate General Counsel, Transocean

SPONSOR OPPORTUNITIES

Sponsorship opportunities are available!

For more information please contact
Stephanie Murphy at +1-713-292-1945 or stephanie.murphy@iadc.org.

Program Committee
Bob Blair, Diamond Offshore Drilling Inc.
Rosana Bryant, Pride International Inc.
John Buvens, Rowan Companies Inc.
Dave Faure, Transocean
Brady Long, Pride International Inc.
Jason McFarland, IADC
Cary Moomjian, ENSCO International Inc.
Ernie Nelson, Nabors Drilling USA L.P.
Mike Roth, ENSCO International Inc.
Jeff Todish, Hercules Drilling Company
Shawn Vigeant, Pride International Inc.

Hotel Information
Please make your room reservations directly with the hotel.
Please be sure to mention IADC to obtain discounted rate.

Omni Houston Hotel Westside
13210 Katy Freeway
Houston, Texas 77079
Phone: 1-281-558-8338 Fax: 1-281-558-4028
Room Rates: $150.00 per night (single or double)
Rates available until 13 October 2008.

10:00 am Coffee Break Texas Ballroom Foyer

Ethics, Anti-corruption and the Foreign Corrupt Practices Act

9:45 am Coffee Break Texas Ballroom Foyer Sponsored by Fowler Rodriguez Valdes-Fauli

Compliance