8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) May 6, 2011

Seahawk Drilling, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-34231	72-1269401
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

5 Greenway Plaza, Suite 2700, Houston, Texas 77046

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code (713) 369-7300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, Seahawk Drilling, Inc., a Delaware corporation (the “Company”), and certain of its subsidiaries, Seahawk Global Holdings LLC, a Delaware limited liability company, Seahawk Mexico Holdings LLC, a Delaware limited liability company, Seahawk Drilling Management LLC, a Delaware limited liability company, Seahawk Drilling LLC, a Delaware limited liability company, Seahawk Offshore Management LLC, a Delaware limited liability company, Energy Supply International LLC, a Delaware limited liability company, and Seahawk Drilling USA LLC, a Delaware limited liability company (collectively, with the Company, the “Debtors”), each filed voluntary petitions for relief (collectively, the “Bankruptcy Case”) under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division (the “Bankruptcy Court”).

Following the completion of the Bankruptcy Court approved sale of substantially all of the Debtors’ assets to Hercules Offshore, Inc. (“Hercules”), the Debtors have terminated additional employees and officers due to a reduction in need for employees and officers following the completion of the sale to Hercules. This reduction included Randall D. Stilley, the President and Chief Executive Officer of the Company, and William C. Hoffman, the Senior Vice President and Chief Operating Officer of the Company. Each of Messrs. Stilley and Hoffman were terminated as an officer and employee of the Company effective as of May 6, 2011.

James R. Easter, age 54, the Company’s Senior Vice President and Chief Financial Officer, was appointed the President and Chief Executive Officer of the Company immediately after Mr. Stilley’s termination on May 6, 2011.

Mr. Easter has served as the Company’s Senior Vice President and Chief Financial Officer since May 10, 2010. From September 2008 until May 2010, Mr. Easter was involved in private investments. From May 2002 until September 2008, Mr. Easter was employed by McDermott International, Inc.; from February 2006 to September 2008, as Vice President, Corporate Development and Strategic Planning; from September 2002 to February 2006, as Vice President, Finance and Treasurer; and from May 2002 to September 2002, as Assistant Treasurer. From December 2000 until May 2002, Mr. Easter served as Vice President, Transaction Development and Support at Reliant Energy, Inc.

There are no arrangements or understandings between Mr. Easter and any other person pursuant to which he was appointed as an officer. There are no family relationships between Mr. Easter and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company. The Company is not aware of any transaction in which Mr. Easter or any of his immediate family members have an interest requiring disclosure under Item 404(a) of Regulation S-K.

1

Item 7.01. Regulation FD Disclosure.

On April 29, 2011, the Debtors filed their monthly operating report for the period from March 1, 2011 to March 31, 2011 (the “Monthly Operating Report”) with the Bankruptcy Court. The Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated by reference herein. This Current Report on Form 8-K, including Exhibit 99.1 being furnished as part of this report, will not be deemed an admission as to the materiality of any information required to be disclosed solely by Regulation FD.

All documents filed in connection with the Bankruptcy Case, including the Monthly Operating Report, are publicly available and may be accessed free of charge at the website of the Debtors’ Claims, Notice and Balloting Agent, Kurtzman Carson Consultants, LLC, http://www.kccllc.net/seahawk.

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report contains consolidated information regarding the Debtors and does not contain information regarding the non-Debtor subsidiaries of the Company. The Monthly Operating Report is limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Bankruptcy Court. The Monthly Operating Report was not audited or reviewed by independent accountants, was prepared in accordance with Generally Accepted Accounting Principles in the United States, except as otherwise noted in the Monthly Operating Report, is in a format prescribed by applicable bankruptcy laws, and is subject to future adjustment and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 and the related exhibit incorporated herein by reference shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

2

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Monthly Operating Report for the period from March 1, 2011 to March 31, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

3

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SEAHAWK DRILLING, INC.
Date: May 11, 2011	By:	/S/ JAMES R. EASTER
		James R. Easter
		President and Chief Executive Officer

4

EXHIBIT INDEX

Exhibit Number	Description
99.1	Monthly Operating Report for the period from March 1, 2011 to March 31, 2011, filed with the United States Bankruptcy Court for the Southern District of Texas, Corpus Christi Division

EX-99.1

Exhibit 99.1

United States Bankruptcy Court

Southern District of Texas

Corpus Christi Division

Case Name:	Seahawk Drilling Inc., Debtor in Possession	(1) (2) (3)	Petition Date:	2/11/2011
Case Number:	11-20089

Monthly Operating Report Summary for Month - March / Year 2011

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 3	Month 4	Month 5
Revenues		4,231,305			9,355,194
Income Before Interest, Taxes, Depr., Amort. (5)		(6,629,006	)		(2,127,964	)
Net Income (Loss) (5)		(6,764,992	)		(2,978,267	)
Payments to Insiders		(1,969,502	)		(103,914	)
Payments to Professionals		—			(75,000	)
Total Disbursements		(14,207,890	)		(9,936,438	)

	Required Insurance  Maintained As of Signature Date		Exp Date
Casualty	Yes (X)	No (  )	6/30/2011
Liability	Yes (X)	No (  )	6/30/2011
Vehicle	Yes (X)	No (  )	6/30/2011
Workers	Yes (X)	No (  )	6/30/2011
Other	Yes (X)	No (  )	6/30/2011

			Circle One
Are all accounts receivable being collected within terms?			Yes (  )	No (X) (4)
Are all post-petition liabilities, including taxes, being paid within terms?			Yes (X)	No (  )
Have any pre-petition liabilities been paid?			Yes (X)	No (  )
If so, describe:	Only as approved in 1st day order and interim DIP order; taxing authorities, insurance, employee benefits / expense reports, Natixis bank group
Are all funds received being deposited into DIP bank accounts?			Yes (X)	No (  )
Were any assets disposed of outside the normal course of business?			Yes (X)	No (  )
If so, describe:	Sonora assets: sold metal bldg, hunting field equipment & (3) vehicles ($45K)
Are all U.S. Trustee Quarterly Fee Payments current?			Yes (X)	No (  )
What is the status of your Plan of Reorganization?		In development

Attorney Name	Berry D. Spears
Firm Name	Fulbright & Jaworski L.L.P.
Address	1301 McKinney
	Suite 5100
City, State, ZIP	Houston, TX 77010
Telephone/Fax	713.651.5151

I certify under penalty of perjury that the following complete Monthly Operating Report (MOR) is true and correct.
/s/ James R. Easter	Title	Senior V.P. and Chief Financial Officer
(Original Signature)
James R. Easter		4/29/11
(Print Name of Signatory)		(Date)

(1) The jointly administered Debtors are authorized to file monthly operating reports on a consolidated basis, and have disbursements broken down by case number on Exhibit A attached; the following entities are included in the joint administration: Seahawk Drilling, Inc., Seahawk Global Holdings, LLC, Seahawk Drilling Management, LLC, Seahawk Drilling, LLC, Seahawk Drilling USA, LLC, Seahawk Offshore Management, LLC,

Energy Supply International, LLC, Seahawk Mexico Holdings, LLC.

(2) By agreement with the US Trustee, these reports are to be provided 30 days following each month end.

(3) Prepared according to GAAP, unless otherwise noted

(4) Outstanding receivables continue to be collected within the same time period consistent with our pre-filing experience.

(5) February results updated for transactions recorded after prior month submittal of MOR schedules relative to DE Shaw DIP (fees, expenses, interest)

MOR 1

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Comparative Balance Sheets

Description	Filing Date*			Month 2/28/2011			Month 3/31/2011			Month 3	Month 4	Month 5
ASSETS
Cash and Cash Equivalents	$	4,071,237		$	3,300,277		$	2,658,364
Trade Receivables, net		17,987,928			16,798,437			16,271,656
Inventory		—			—			—
Deferred Income Taxes		0			0			0
Due from Pride		1,440,670			1,440,670			1,440,670
Insurance Claims		2,072,172			1,922,467			1,925,741
Other Current Assets		7,346,857			6,774,007			2,513,034
Assets Held for Sale		112,300,000			112,300,000			112,648,691	(1)
Total Current Assets		145,218,864			142,535,858			137,458,156
Property, Plant & Equipment (Net)		—			—			—
Other Long Term Assets		—			—			—
Deferred Cost - Long Term Portion		—			—			—
Goodwill		—			—			—
Total Other Long Term Assets		—			—			—
TOTAL ASSETS	$	145,218,864		$	142,535,858		$	137,458,156
LIABILITIES & SHAREHOLDERS EQUITY
Pre-petition Liabilities
Accounts Payable		12,660,585			9,756,143			9,440,014
Pride		17,181,355			17,224,790			17,224,790
Notes Payable - Secured
Priority Debt
Payoll Taxes		86,667			212,993			—
Unsecured Debt
Other		36,274,816			31,908,482			31,315,471
Total Pre-petition Liabilities		66,203,423			59,102,408			57,980,274
Post-petition Liabilities
Accounts Payable		—			358,387			748,671
Due to Pride		—			184,235			627,937
Accrued Expenses		—			7,103,468			8,568,763
Current Debt		17,900,000			20,726,911			18,114,402
Other Current Liabilities		—			701,772			0
Total Post-petition Liabilities		17,900,000			29,074,774			28,059,773
Total Current Liabilities		84,103,423			88,177,182			86,040,047
Pre-petition Long-Term Liabilities:
Long-Term Accruals and Provisions		2,097,818			2,097,818			2,144,109
Intercompany Accounts Payable		354,908,443			354,916,671			354,908,078	(2)
Deferred Income Taxes - Long Term		—			—			—
Total Long Term Liabilities		357,006,261			357,014,488			357,052,187
TOTAL LIABILITIES		441,109,684			445,191,670			443,092,234
Total Shareholders Equity		(295,890,820	)		(302,655,812	)		(305,634,079	)
TOTAL LIABILITIES & SHAREHOLDERS EQUITY	$	145,218,864		$	142,535,858		$	137,458,156

* Per Schedules and Statement of Affairs

(1) Number derived from Hercules HSR filing. March addition related to SPS certification that will transfer with the sold rigs

(2) The Debtors have scheduled the intercompany claims with the non-Debtor subsidiaries as contingent and disputed.

MOR 2 / 3

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Schedule of Post-Petition Liabilities

Description	Month 2/12/11 to  2/28/11		Month 3/31/2011		Month 3	Month 4	Month 5
Pre-Petition Liabilities:
Trade accounts payable	$	9,756,143	$	9,440,014
Due to pride		17,224,790		17,224,790
Short-term debt - secured		—
Accrued expenses and other current liabilities
Contingency claims		11,561,084		11,734,606
Payroll and benefits		—		—
Accrued medical insurance		4,688,454		4,214,381
Payroll taxes		212,993		—
Other taxes		25,000		25,000
Deferred mobilization revenue		86,667		—
Customer advances		—		—
Accrued rent		667,257		667,257
Accrued professional fees		49,005		2,845
Other accrued expenses		14,831,015		14,671,381
Total accrued expenses and other current liabilities		32,121,475		31,315,471
Long-term accruals and provisions		2,097,818		2,144,109
Intercompany accounts payable		354,916,670		354,908,078
Total Pre-Petition Liabilities		416,116,896		415,032,462
Post-Petition Liabilities:
Trade Accounts Payable		358,387		748,671
Due to Pride		184,235		627,937
Short-term debt		20,726,911		18,114,402
Accrued expenses and other current liabilities
Contingency claims		—		34,433
Payroll and benefits		630,030		998,717
Accrued medical insurance		—		—
Payroll taxes		567,905		659,101
Other taxes		95,911		120,911
Deferred mobilization revenue		256,806		—
Customer advances		358,300		—
Accrued rent		—		23,009
Accrued professional fees		1,053,705		1,141,301
Other accrued expenses		4,842,584		5,591,292
Total accrued expenses and other current liabilities		7,805,241		8,568,764
Long-term accruals and provisions		—		—
Intercompany accounts payable		—		—
Total Post-Petition Liabilities	$	29,074,775	$	28,059,773

MOR 4

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Aging of Post-Petition Liabilities as of March 31, 2011

Days	Total			Trade Accounts			Federal Taxes		State Taxes			Ad Valorem, Other Taxes		Other
0-30		794,680			588,230			193,216		(26,766	)		40,000
31-60		734,002			160,440			492,651					80,911
61-90		—
91+		—
TOTAL SEAHAWK		1,528,683			748,671			685,867		(26,766	)		120,911		—
Aging of Accounts Receivable
Month	Month 2/28/2011			Month 3/31/2011			Month 3		Month 4			Month 5		Month 6
0-30		13,302,498			12,019,703
31-60		3,249,761			4,349,870
61-90		292,314			3,001
91+		(46,136	)		(100,919	)
TOTAL SEAHAWK		16,798,437			16,271,656

MOR 5

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Statement of Income (Loss)

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 3	Month 4	Month 5	Filing to Date
Operating Revenue		4,267,470			8,609,672						12,877,142
Mob/Demob/Reimbursable Revenue		(36,165	)		745,522						709,357
Total Revenues		4,231,305			9,355,194						13,586,499
Costs and Expenses
Operating Costs
Wages & Burden		1,359,019			3,385,738						4,744,758
Repairs & Maintenance / Supplies		337,772			620,916						958,688
Rental Expenses (1)		168,731			(58,929	)					109,802
Other Operating Costs		738,915			1,217,365						1,956,279
Mob/Demob/Reimbursable Expense		253,764			561,216						814,980
Other Direct Costs		619,881			2,760,362						3,380,243
Total Operating Costs		3,478,080			8,486,668						11,964,748
Depreciation & Amortization		—			—						—
General & Administrative (2)		7,261,188			2,616,530						9,877,718
(Gain) Loss on Sale of Fixed Assets		—			—						—
Impairment of Fixed Assets		—			—						—
Operating Income (Loss)		(6,507,964	)		(1,748,004	)					(8,255,967	)
Other Income (Expense)
Interest Income (Expense) (2)		(131,481	)		(804,012	)					(935,493	)
Other Income (Expense)		(121,042	)		(379,960	)					(501,002	)
Income Before Income Taxes		(6,760,487	)		(2,931,975	)					(9,692,463	)
Income Tax Expense (Benefit)		4,505			46,291						50,796
Income (Loss) from Continuing Operations		(6,764,992	)		(2,978,267	)					(9,743,259	)

(1) Credit balance in March relates to a reclassification of expense - no effect on income.

(2) February results updated for transactions recorded after prior month submittal of MOR schedules.

MOR 6

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Statement of Cash Flows

Description	Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 3	Month 4	Month 5
Beginning Cash Balance		4,071,237			3,300,277
Contract Drilling		6,035,902			9,180,203
Other		813,007			114,322
Total Cash Receipts		6,848,909			9,294,525
Operating Expenses		(1,022,663	)		(2,829,125	)
Payroll		(2,298,422	)		(4,030,567	)
Insurance		(3,520,032	)		—
Pride Wyoming		—			—
Ordinary Course Professionals		—			—
Rent		—			—
G&A and Other		—			—
Total Cash Disbursements		(6,841,117	)		(6,859,692	)
Net Cash Flow From Operations		7,792			2,434,833
Restructuring Related
CIC and LTIP Payments		(2,305,217	)		—
Restructuring Professionals		—			(75,000	)
U.S. Trustee		—			—
Total Restructuring Related		(2,305,217	)		(75,000	)
Financing Fees
Natixis Facility Repayment		(17,900,000	)		—
DIP Fees		—			—
DIP Interest		—			(389,237	)
DIP Borrowings (Repayment)		19,426,465			(2,612,509	)
Total Financing Payments / Borrowing		1,526,465			(3,001,746	)
Ending Cash Balance		3,300,277			2,658,364

MOR 7

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Cash Account Reconciliation - Month of 3/1/11 - 3/31/11

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

Bank Name Account Number Account Type	30647841 SDI			Checking 38749957 SDI			38749965 SDI			30803656 SH Drlg LLC		Checkng 38751256 SH Drlg LLC			38751264 SH Drlg LLC		30648414 SH  Drlg LLC		30806072 ESI		Checking 38803853 ESI
Bank Balance		3,545,639			0			0			0		0			0		0		0		0
Deposit in Transit		0			0			0			0		0			0		0		0		0
Outstanding Checks		0			(224,257	)		0			0		(21,709	)		0		0		0		0
Adjustment Bank Balance		14,098			(6,824	)		(2,500	)		0		(4,497	)		0		0		0		14,598
Beginning Cash - Per Books		3,559,737			(231,081	)		(2,500	)		0		(26,206	)		0		0		0		14,598
Receipts*		9,294,525			0			0			0		0			0		0		0		0
Intercompany		0			0			0			0		0			0		0		0		0
Transfers Between Accounts		(4,743,757	)		779,302			0					196,896			0		0		0		66,204
— DIP Financing		(3,001,746	)		0			0			0		0			0		0		0		0
— Checks / Other Disbursements		(2,228,156	)		(625,153	)		0					(241,996	)		0		0		0		(143,485	)
— Adjustment		(29,798	)		3,966			0					21,880			0		0		2,352		(14,778	)
Sub-Total Disbursements		(5,259,700	)		(621,187	)		0			0		(220,116	)		0		0		2,352		(158,263	)
Ending Cash - Per Books *		2,850,805			(72,966	)		(2,500	)		0		(49,426	)		0		0		2,352		(77,461	)

Bank Name Account Number Account Type	30765063 SDM			38751248 SDM			30806099 SDM			Checking 38803845 SDM			Encore 303093849 SH  Mx Holdings		Encore 30373377 SH  Drlg LLC			Total
Bank Balance		0			0			0			0			0		0			3,545,639
Deposit in Transit		0			0			0			0			0		0			0
Outstanding Checks		0			0			0			(17,864	)		0		0			(263,830	)
Adjustment Bank Balance		9,049			(16,321	)		15,099			(5,800	)		0		1,566			18,468
Beginning Cash - Per Books		9,049			(16,321	)		15,099			(23,664	)		0		1,566			3,300,277
Receipts*		0			0			0			0			0		0			9,294,525
Intercompany		0			0			0			0			0		0			0
Transfers Between Accounts		533,583			0			3,081,443			86,329			0		0			0
— DIP Financing		0			0			0			0			0		0			(3,001,746	)
— Checks / Other Disbursements		(533,583	)		0			(3,081,443	)		(83,203	)		0		0			(6,937,019	)
— Adjustment		(6,451	)		11,453			6,451			8,818			0		(1,566	)		2,327
Sub-Total Disbursements		(540,034	)		11,453			(3,074,992	)		(74,385	)		0		(1,566	)		(9,936,438	)
Ending Cash - Per Books *		2,598			(4,868	)		21,550			(11,720	)		0		0			2,658,364

* Numbers should balance (match) Total Receipts and Total Disbursement lines on MOR 7.

MOR 8

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Payments to Insiders and Professionals

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section 101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g. salary, commission, bonus, etc.) (Attach additional pages as necessary).

INSIDERS: NAME / COMP TYPE	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 3		Month 4		Month 5
1. Randall D. Stilley / Salaries & Wages		24,128		48,256
Randall D. Stilley / Restricted Stock Vesting, Non-cash		740,889		—
Randall D. Stilley / Expense Reimbursement		9,948		—
2. William C. Hoffman / Salaries & Wages		15,432		30,865
William C. Hoffman / Restricted Stock Vesting, Non-cash		445,084		—
3. Alejandro Cestero / Salaries & Wages		5,499		—
Alejandro Cestero / PTO Payout		2,909		—
Alejandro Cestero / Restricted Stock Vesting, Non-cash		179,053		—
Alejandro Cestero / Expense Reimbursement		40		—
4. Raymond Gonzales / Salaries & Wages		4,855		—
Raymond Gonzales / PTO Payout		1,831		—
Raymond Gonzales / Restricted Stock Vesting, Non-cash		46,500		—
5. James R. Easter / Salaries & Wages		12,397		24,794
James R. Easter / Restricted Stock Vesting, Non-cash		116,241		—
James R. Easter / Expense Reimbursement		120		—
6. Robert E. Moore / Salaries & Wages		5,048		—
Robert E. Moore / PTO Payout		2,654		—
Robert E. Moore / Restricted Stock Vesting, Non-cash		69,750		—
7. Stephen Snider / Board of Directors Restricted Stock Vesting, Non-cash		78,101		—
8. Franklin F. Myers / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—
9. Ed P. Segner III / Board of Directors Restricted Stock Vesting, Non-cash		25,910		—
10. Mark E. Baldwin / Board of Directors Restricted Stock Vesting, Non-cash		25,910		—
11. Richard J. Alario / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—
12. John T. Nesser III / Board of Directors Restricted Stock Vesting, Non-cash		52,401		—
TOTAL INSIDERS		1,969,502		103,914
PROFESSIONALS	Month 2/12/11 to 2/28/11		Month 3/31/2011		Month 3		Month 4		Month 5
1. Simmons & Co.				75,000
2
3
4
5
6
TOTAL PROFESSIONALS		—		75,000		—		—		—

MOR 9

Case Name:	Seahawk Drilling Inc., Et Al
Case Number:	11-20089

Exhibit A - Disbursements

Entity	Case No.		Month 2/12/11 to 2/28/11			Month 3/31/2011			Month 3		Month 4		Month 5
SEAHAWK DRILLING LLC		11-20088		(25,679	)		(238,901	)
SEAHAWK DRILLING INC.		11-20089		(9,647,089	)		(5,882,454	)
SEAHAWK MEXICO HOLDINGS LLC		11-20090
SEAHAWK DRILLING MANAGEMENT LLC		11-20091		(3,265,300	)		(528,580	)
SEAHAWK OFFSHORE MANAGEMENT LLC		11-20092		(1,269,822	)		(3,149,377	)
ENERGY SUPPLY INTERNATIONAL LLC		11-20093					(137,126	)
SEAHAWK GLOBAL HOLDINGS LLC		11-20094
SEAHAWK DRILLING USA LLC		11-20095
Total Disbursements (same as MOR-1 disbursements)				(14,207,890	)		(9,936,438	)		—		—		—