Agip Extends Bredford Dolphin Contract

Dolphin Drilling has received notification of a contract extension from Agip Gas BV for its semisub, Bredford Dolphin. The rig has been operating offshore Libya since March 2003. The extended contract is on the same terms and conditions as the current contract with a dayrate of approximately EUR 64,000. The extension period covers the time to drill one additional well and test and complete five sub sea wells and is expected to keep the rig employed towards the end of second quarter 2004.

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