ODE Wins Major Contract in New Zealand

Oil Drilling & Exploration Limited (ODE) announces the award of a major contract in New Zealand.

Shell Todd Oil Services has awarded an onshore drilling contract in the Taranaki region of New Zealand to ODE Rig #41. The drilling program will commence in February 2005 and will involve the drilling of three deep, production wells and one water disposal well in the offshore Pokohura field. The wells will be drilled from an onshore location and it is anticipated that the program will take around one year to complete. Rig #41is a high spec 2,000 HP rig with three 1,600 HP pumps, 1,350 HP top drive and a skidding system. The rig will be imported from its current location in Indonesia. It will be the largest and most capable land rig ever employed in New Zealand.