Neptune Discoverer Halts Drilling Operations

Neptune Discoverer has discontinued drilling operations on the well offshore Vietnam due to problems with the drill string motion compensator and is currently on zero rate.

The Company is working closely with the operator on several alternatives to rectify the problem. Equipment specialists and spares are on its way to the rig. It is estimated that the drill string motion compensator will be rectified within a period of 8-13 days.

The rig will continue drilling operations as soon as the compensator is functioning properly.

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