Drilling Resumes at Flamant-1

Since the last report on the Flamant-1 exploration well, repairs have been made to the Blow Out Preventer (BOP) and it has been re-run to the seabed. As of midnight on September 4, 2006, drilling of Flamant-1 to the next planned casing point at 2,110 meters had recommenced with the well having reached a depth of 1,880 meters.

Flamant-1 targets Cretaceous Carbonates and has a planned total depth 3,370m. The well is located in 1,414m of water, approximately 210km from the shore and 195 km North-West from Pelican-1, a Cretaceous gas discovery drilled in Block 7.

On completion of Flamant-1 the Atwood Hunter will drill a second Dana-operated exploration well, Aigrette-1 in Block 7, before returning to Woodside. Equities in Block 8 are:

Dana Petroleum (Operator) 41.5%
Hardman Resources Ltd 18.0%
Roc Oil Company 2.0%
Wintershall 25%
Gaz de France 13.5%

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.

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