Rowan Obtains North Sea Contract for Gorilla VII


Rowan Gorilla VII
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Rowan Companies has been awarded a term drilling contract for use of the Rowan Gorilla VII in the North Sea commencing in August 2005. The contract provides for a one-year term with a minimum work commitment of nine months, and includes an option for a second year. Rowan estimates that contract revenues, based on a one-year term, will be approximately $65 million.

As previously reported, Gorilla VII is currently carrying out decommissioning activities on the Ardmore Field in the North Sea which the Company expects to conclude during July.

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