Atwood Oceanics Comments on False Rumor

Atwood Oceanics announced today that during a meeting on Tuesday, April 7, 2009, with analysts, John R. Irwin, the Chief Executive Officer and President of the Company was advised of a rumor in the market that the Company was the target in a potential merger or acquisition situation, as well as unusual activity in the market for the Company's common stock.

Mr. Irwin subsequently advised the analysts, and others making inquiry of James M. Holland, Senior Vice President of the Company, were advised that, to their knowledge and to date, the rumor was unfounded. The Company is otherwise unaware of any corporate activities that would account for unusual market activity for the Company's common stock.