Awilco Nabs LOI for Drilling Program Offshore Indonesia

Awilco Offshore through Premium Drilling has received a Letter of Intent from an International Operator, for a drilling program of three firm wells plus three optional wells for the jackup drilling rig WilCraft. The firm period of the contract is estimated to 90 days.

The estimated contract value for the firm period of the contract is approximately USD$17.5 million. Operation is scheduled to commence in October or November, in direct continuation of the rig's present commitment with Peak Group Asia Pacific Pty Ltd offshore Australia.

Peak Group Asia Pacific Pty Ltd has extended its contract with WilCraft for one further well, bringing the total number of wells to 17.

WilCraft is equipped for high pressure/ high temperature drilling in water depths up to 400 feet.


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