Lundin Lands Rig for NCS Drilling

Dolphin AS, a subsidiary of Fred Olsen, has entered into a Letter of Award with Lundin for a 2-well drilling contract for the semi submersible drilling rig Bredford Dolphin. Operations will commence in January/February 2011 on the Norwegian continental shelf. The contract value is approximately USD 40 million for an estimated drilling program of 120 days. Lundin has the option to extend the contract period with two additional wells by December 1, 2010.

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