Pertra to Use Maersk Giant for One Well in North Sea

Pertra AS has signed a Letter of Intent for the Maersk Giant from Maersk Contractors Norge AS for the drilling of one exploration well during the summer of 2007.

The rig will be employed in the Norwegian sector of the North Sea. The agreed day rate is US $295,000. Pertra pays 12.5% of the contract value at the time of signing the contract.

"We are very pleased that we have succeeded in securing a rig for a single well in a heated market. 2007 is already about to be fully booked where rig capacity is concerned, and for Pertra exploration activities in 2007 are essential to the fulfillment of our exploration obligations", states VP Drilling and Well Operations in Pertra, Anton Tronstad.

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