Parker Drilling Wins Contracts for Three Rigs

Parker Drilling Company says that two of the Company's land rigs and one barge rig have been awarded contracts for drilling operations in Bangladesh, Texas and the U.S. Gulf of Mexico.

Land rig 121 was awarded a one-year contract by Golden Gate Petroleum, Ltd., for work on Padre Island, located in Texas on the Gulf of Mexico coastline. Operations are scheduled to begin in May 2006 following completion of the rig's current contract in Mexico and the rig's mobilization to Texas. The contract also includes options for four, six-month extension periods. Land rig 121 is a 2,000 horsepower rig, capable of drilling to 20,000 feet.

Parker land rig 225 is currently rigging up in Bangladesh's Bangora field under a two-well contract for Tullow Bangladesh Ltd. The well program is expected to last for approximately six months, and the contract includes options for two additional wells. Rig 225, which mobilized from an inactive status in Indonesia, is a 2,000 horsepower rig, capable of drilling to depths of 20,000 feet.

Additionally, Parker Drilling was awarded three consecutive two-month contracts for its barge rig 12 by Gulfport Energy Corporation for work in the West Cote Blanche and Hackberry bays, located off the Southeast Louisiana coast. Rig 12B is currently being upgraded from a workover to deep drilling barge rig and is expected to depart the shipyard in late April.
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