WilBoss Jackup Sets Sail for Operations Offshore Palawan

Nido Petroleum Ltd. and its Joint Venture partner, Kairiki Energy Ltd., have announced that as of 22:30 on Friday, August 29, 2008, the WilBoss jackup drilling rig began mobilizing from Vietnam to Service Contract 54 (SC54), located in the Northwest Palawan Basin, offshore the Palawan Island in the Philippines.

Travel time for the WilBoss is expected to be about 7 days and the upcoming shallow water drilling campaign will commence with the Yakal-1 well, followed by Tindalo-1.

The WilBoss is a new-build rig which left the shipyard in March 2008, and it will be on-hire to execute the drilling campaign in SC54 for approximately two months. The SC54 Joint Venture secured the WilBoss in a tight rig market earlier this year through an assignment agreement with Premier Oil Vietnam Offshore B.V. and WilBoss Ltd.

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