Atwood's Seahawk Wins Work Offshore Equatorial Guinea

Atwood Oceanics reports that the SEAHAWK has been awarded a contract by Amerada Hess Equatorial Guinea, Inc., to work off the coast of Equatorial Guinea for a firm period of 730 days with four options of 180 days each. The drilling operation is expected to commence between June 1, 2006 and August 31, 2006. The contract provides for a base operating dayrate of $68,430, with a mobilization fee and other advance payments of approximately $5.5 million.

The SEAHAWK is currently working for Sarawak Shell Berhad off the coast of Malaysia on a drilling program that is expected to extend to February/March 2005. Additional work, covering the period between the completion of the Shell contract and mobilization preparation for the Hess contract is being pursued in Southeast Asia as well as other areas of the world.