Transocean Inc. Announces Patent Lawsuit Partial Summary Judgment
HOUSTON--(BUSINESS WIRE)--Dec. 1, 2005--Transocean Inc. (NYSE:RIG)today announced that the U.S. District Court for the Southern Districtof Texas, Houston Division, has granted Transocean partial summaryjudgment in its dual activity patent lawsuit against GlobalSantaFe. Inparticular, the court validated Transocean's claim thatGlobalSantaFe's semisubmersibles Development Driller I and DevelopmentDriller II violate Transocean's apparatus claims under its U.S.patents. The court declined to grant summary judgment on Transocean'smethod claims at this time noting that there was no evidence thatGlobalSantaFe had yet used or practiced the infringing method. Whilethis decision does not finally resolve the matter since GlobalSantaFecontinues to assert that the patents are invalid, Transocean believesthat the ruling is an encouraging and important step in theenforcement of its dual activity patents. Trial on the remainingissues is currently set for the summer of 2006.
Statements regarding the summary judgment, the challenge to thevalidity of our patents, patent enforcement actions, the timing of thetrial, as well as any other statements that are not historical factsin the report, are forward-looking statements that involve certainrisks, uncertainties and assumptions. These include but are notlimited to the risk inherent in any litigation, actions by thirdparties, the future prices of oil and gas and other factors detailedin the company's most recent Form 10-K and other filings with theSecurities and Exchange Commission. Should one or more of these risksor uncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those indicated.
Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 92 mobile offshore drilling units. Thecompany's mobile offshore drilling fleet, consisting of a large numberof high-specification deepwater and harsh environment drilling units,is considered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. The company's fleet consists of 32High-Specification Floaters (semisubmersibles and drillships), 24Other Floaters, 25 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $21 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe symbol \"RIG.\"
CONTACT: Transocean Inc., Houston Analyst Contact: Jeffrey L. Chastain, 713-232-7551 or Media Contact: Guy A. Cantwell, 713-232-7647 SOURCE: Transocean Inc.