AWDR - Q1 2011 Results, Rig Mobilisation and Increase in Contract Value
Please find attached the Q1 2011 report for Awilco Drilling PLC.
Awilco Drilling PLC confirms that the WilPhoenix and WilHunter are delivered from the Remontowa Shipyard in Poland following extensive rig upgrading and re-classing projects. WilPhoenix is currently en route to its drilling location. WilHunter is undergoing its last preparations before departure to its drilling location and is expected to leave today. Both rigs are expected to have about a week's mobilisation to their respective drilling locations in the UK North Sea.
Awilco Drilling has previously announced its contract with SPD and Nautical Petroleum PLC for WilHunter for the first well of the multi well, multi client 2011 SPD drilling program. The firm part of this contract value has been increased from approximately USD 5 million to approximately USD 11 million.
Aberdeen, 27 May 2011
For further information please contact:
Jon Oliver Bryce, CEO
Phone: +44 1224 737900
Cathrine Haavind, IR Manager
Phone: +47 93 42 84 64
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.