Eirik Raude Receives LOI from Esso Exploration

Ocean Rig has entered into a Letter of Intent with Esso Exploration Inc., a subsidiary of Exxon Mobil Corporation, for exploration drilling in the Orphan Basin offshore Newfoundland with potential reassignment to the Gulf of Mexico or the North Sea. If a final contract is executed, it would commence in direct continuation from its current contract with Statoil, which is anticipated to be during the early part of 2006.
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