IDE to Build Four New State of the Art 3000HP AC Modular Platform Rigs for PEMEX

HOUSTON, April 1, 2013 /PRNewswire/ -- Empeiria Acquisition Corp. (OTC BB: EPAQ; EPAQW; EPAQU) ("EAC" or the "Company") and its wholly owned subsidiary, Integrated Drilling Equipment Company Holdings, LLC ("IDE") today announced it has been awarded contracts by PEMEX Exploration and Production to deliver four state of the art modular offshore platform rig packages with an aggregate contract value in excess of US$350 million. 

Delivery of the first unit is scheduled in the third quarter 2014, with the additional units to be delivered by December 2014.  The specifications were developed through close collaboration of the IDE and PEMEX teams.  Deployment of the drilling packages will be key steps toward the development of the Tekel, Ayastil, Xux and Tsimin fields in the Bay of Campeche.

Steve Cope, CEO of IDE said; "We are extremely excited about the award of these contracts. We appreciate all of the hard work, cooperation and effort that PEMEX and their management and technical teams extended to IDE during the negotiations of these contracts. IDE looks forward to using these contracts as a platform for future growth of our products and services to PEMEX and other Drilling Contractors serving the land and offshore drilling market in Mexico."

About IDE
IDE and its predecessor companies have been active in providing services and products to the drilling industry since 1981. IDE's principal service and product offerings consist of the construction of new land rigs based on IDE designs or customized to customers' specifications; providing extensive reconfiguration and refurbishment services for land rigs to repair and extend their life or to adapt them for different drilling environments; providing offshore rig upgrade packages, refurbishment services, and related components for offshore newbuild rigs; supplying integrated electrical systems and control systems for a wide range of land and offshore drilling rigs; and providing engineered hydraulic rig solutions. For more information on IDE, please visit: http://www.ide-rig.com/.

About EAC
EAC was formed on January 24, 2011 for the purpose of acquiring one or more operating business or assets through a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, exchangeable share transaction or other similar business transaction (an "initial business transaction").  The merger with IDE on December 14, 2012 constituted EAC's initial business transaction.

Forward-Looking Statements
In addition to historical information, this release may contain a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995.  Words such as "anticipate," "expect," "project," "intend," "plan," "believe," and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements.  Forward-looking statements include, but are not limited to: statements about the benefits of the merger; the combined company's plans, objectives, expectations, estimates and intentions; and other statements that are not historical facts.  Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties.  There can be no assurance that actual results will not materially differ from expectations.  Important factors could cause actual results to differ materially from those indicated by such forward-looking statements. Additional risks and uncertainties are identified and discussed in EAC's reports filed with the SEC and available at the SEC's website at www.sec.gov.  Forward-looking statements included in this release speak only as of the date of this release.  EAC undertakes no obligation to update its forward-looking statements to reflect events or circumstances after the date of this release.

SOURCE Integrated Drilling Equipment Company Holdings, LLC