Atwood Falcon Semisub Undergoes Repair

The Atwood Falcon, owned and operated by Atwood Oceanics Pacific Limited, is currently incurring unplanned zero-rate downtime due to equipment repair issues.

The Company is expediting all repairs; however, the Atwood Falcon is expected to be at zero rate for two (2) to five (5) weeks, which will negatively impact diluted earnings per share for the quarter ending March 31, 2010 by $0.15 to $0.30.

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