Contract for WilCraft Extended from 13 to 16 Wells

Awilco Offshore and Premium Drilling report that Peak Group (Asia Pacific) Pty Ltd has exercised 3 of the 11 optional wells on its contract with the WilCraft jackup for operations offshore Australia.

WilCraft is on a 13 well firm contract with 11 optional wells with Peak Group (Asia Pacific) Pty Ltd. It is expected that the firm part of the program now will employ WilCraft through to September 2008, with another 8 optional wells outstanding. Terms and conditions for the optional wells are identical to the initial contract period.

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