With reference to the stock exchange notice dated December 23, 2005 PetroJack ASA has entered into marketing and purchase option agreements with one of the world's largest drilling contractors; Transocean Inc.
PetroJack has granted the exclusive Marketing Rights for a period up to March 15, 2006 for the 3 rigs as well as the option to purchase 1, 2 or 3 rigs until March 15, 2006.
In the Agreement, the sales of Rigs 2 and 3 are made subject to PetroJack ASA shareholders General Assembly approval.
A sale of all three rigs will give an average sales price of approximately US $180 million per rig.
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