VENTURA OFFSHORE HOLDING LTD.: Update on DS Carolina

25 Feb 2025 12:40 CET

February 25, 2025 - Ventura Offshore Holding Ltd's (the "Company") DS Carolina
rig has in January been subject to an order of interdiction (i.e. suspension)
from ANP (the regulatory body for oil, natural gas and biofuels industries in
Brazil). ANP is of the view that certain emergency procedures used by the
industry should be improved. The Company has a constructive dialogue with
Petrobras and expects the order of interdiction to be lifted within short time.

The Company's position is that the financial impact of the suspension should not
be material and is in ongoing discussions with its client.

A further update on the above mentioned process will be provided in due course.

For further queries, please contact:
Gunnar W. Eliassen
Chairperson of the Company
+44 7469140012
gunnar@snclondongroup.com

About Ventura Offshore Holding Ltd. Ventura Offshore Holding Ltd. is a deep
water drilling contractor providing deep water offshore drilling services to the
oil and gas industry. The Company's core activities are focused in the Brazilian
offshore oil and gas market. The Company owns and operates one drillship, DS
Carolina, and two semisubmersible drilling rigs, SSV Victoria and SSV Catarina,
and manages one drillship, Zonda. The Company is incorporated under the laws of
Bermuda.

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