Atlantic Towing Secures Contract from Canadian Superior

Canadian Superior Energy has contracted Atlantic Towing's, Atlantic Hawk, as the primary supply vessel supporting the initial drilling program of it's "Mariner" Natural Gas Project offshore Nova Scotia.

Graham Curren, Atlantic Towing's General Manager, commenting from ATL's Halifax offices, "We are very pleased to announce this new contract for the Atlantic Hawk. The vessel will be utilized as the primary supply vessel for the 'Mariner' shallow water exploration campaign, offshore Eastern Canada, beginning later in November. We look forward to continuing our activities with Canadian Superior and their industry partners."

In Calgary, when contacted at Canadian Superior's Head Office, Greg Noval, President of Canadian Superior, noted, "Atlantic Towing Limited performed well for us last year in support of drilling our first 'Marquis' exploration well, L-35/L-35A. This year, the Atlantic Hawk, is exactly what we want to support a late fall - winter drilling program. It is an outstanding local vessel with superior maneuverability and significant power."

The Atlantic Hawk, based from the port of Halifax Nova Scotia, is a world-class Anchor Handling Towing Supply Vessel (AHTSV), built at the Halifax Shipyard, and commissioned in 2000. The vessel has an overall length of 75 m (246 feet) and breadth of 18 m (59 feet); main engines providing 14,400 continuous horsepower, with 3 thrusters of 1,200 horsepower each and dynamic positioning capability.

Commenting on the awarding of the contract to Atlantic Towing, Mike Coolen, Canadian Superior's Director of East Coast Operations, said today, "Atlantic Towing's wealth of international and Eastern Canadian expertise and experience is a welcome addition to the 'Mariner' Project. We look forward to putting the Atlantic Hawk to work shortly when we tow the Rowan Gorilla V jack-up drilling rig out to the 'Mariner' well location. The Rowan Gorilla V is currently in the Port of Mulgrave in the Strait of Canso, Nova Scotia being mobilized for the upcoming 'Mariner' well."

Canadian Superior's "Mariner" Project is located north of the eastern tip of Sable Island on the Scotian Shelf. The first "Mariner" well, approximately 9 kilometers (5 1/2 miles) northwest of Sable Offshore Energy Project's Venture natural gas producing field, will be one of the deepest offshore wells drilled in Canada this year and will be located on Exploration License EL 2409 which was acquired by Canadian Superior in November 2001 for a work expenditure bid of Cdn. $15.5 million. The "Mariner" block (EL 2409), on which three large "world-class" prospects have been identified with current high-resolution seismic, encompasses a total area of 101,800 acres and directly offsets five significant discoveries near Sable Island including the 1.6 tcf Venture natural gas field located about 290 kilometers (180 miles) southeast of Halifax, Nova Scotia. The "Mariner" well will be drilled to a total depth of 18,370 feet (5,600 meters) and will evaluate one of three large structures that have been identified on the "Mariner" block, directly offsetting the 1.6 tcf Venture natural gas field.