Blackford Dolphin Wins Three Year Contract

Dolphin Drilling Ltd. has entered into a letter of award for a three-year drilling contract for the semisub Blackford Dolphin. Contract commencement is after completion of the ongoing deepwater upgrade of the rig mid 2007. The Blackford Dolphin is currently in transit to the Keppel Verolme yard in Rotterdam, the Netherlands where the upgrade will take place. Estimated value of the drilling contract is approximately US $456 million, including approximately US $20 million as compensation for mobilization and demobilization of the rig.
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