Rowan Obtains Four-Well Drilling Contract Offshore Trinidad

Rowan Companies has been awarded a contract to drill four wells offshore Trinidad.

The Rowan Gorilla III will soon relocate to Trinidad to begin a one-year term contract for EOG. The new contract is with another operator and should extend the rig's stay in the area by about six months to March 2008. The Company expects the new contract will generate approximately $45 million of drilling revenues.

Danny McNease, Chairman and Chief Executive Officer, commented, "We are pleased to extend our work commitment in Trinidad. This contract reflects the continuing strength of the market for high-specification jackups throughout the world."

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