EastCoast Energy Secures Rig for Songo Songo Well

EastCoast Energy Corporation has signed a rig contract with Caroil SA to drill a sixth development well, SS-10, on the Songo Songo field.

The Caroil 6 land rig is currently being mobilized to Songo Songo Island. The new well will deviate one kilometer offshore and will be drilled to a depth of approximately 6,400 feet. Drilling is expected to be completed by mid June at a total cost of approximately US$11 million.

Earlier, in January 2007, EastCoast successfully performed remedial work on offshore well SS-9. The Company removed equipment that was left downhole in 1997. As a result, the well's flow rate has increased from 20 mmscf/d to 50 mmscf/d.

The increased deliverability from Songo Songo is required to meet the increasing consumption of "Additional Gas" by both the power and industrial sectors in the Dar es Salaam area, whilst also ensuring there is sufficient deliverability in the event of the loss of production from any one of the six wells.

EastCoast Energy Corporation focuses on the exploration and production of Tanzanian natural gas and the sale of "Additional Gas" to markets in East Africa. The company is headquartered in Tortola, British Virgin Islands and maintains its operations offices in Dar es Salaam, Tanzania.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.