Sarawak Shell Extends Jackup Contract with Tanjung Offshore

Tanjung Offshore Services Sdn Bhd has received a letter of contract extension and amendment from Sarawak Shell Berhad / Sabah Shell Petroleum Company for the provision of the Pride Hawaii valued at approximately Ringgit Malaysia Forty Six Million or RM46,000,000.00 (US $12,368,000).

The extended contract is effective from November 7, 2006 to January 31, 2007. TOS will perform the necessary scope of work under the abovementioned contract during the effective tenure of the extended contract of the rig in East Malaysia.

The contract is expected to contribute positively to the earnings of Tanjung for the financial years ending December 31, 2006 and 2007 respectively. Notwithstanding this, the contract is not expected to have any material effects on the share capital and shareholding structure of the Company.

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