MPX North Sea Ltd has exercised the option of a second well within its drilling contract with Awilco Drilling PLC and SPD. This well represents the third well of the SPD multi-client, multi-well 2011 drilling programme, and has an estimated contract value of approximately USD 7.3 million. The two wells within the MPX contract are planned to commence in direct continuation from the current Nautical Petroleum PLC Kraken well.
WilHunter is one of Awilco Drilling`s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1500 ft.
Aberdeen, 26 July 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.