Borgholm Dolphin Wins New Contract

Dolphin Drilling has entered into an agreement for the provision of the accommodation semisubmersible rig Borgholm Dolphin in the UK North Sea. The agreement, which is subject to execution of a final contract, covers an approximate period of five months of activity commencing first half January 2007. The estimated contract value is approximately US $28 million. The Borgholm Dolphin is presently contracted to Shell UK until end October 2006.
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