Awilco Drilling PLC confirms that it has received notice of termination of its contract with MPX North Sea Ltd as a consequence of the technical downtime advised in our press release of 24 May 2012. The estimated remaining time of the terminated contract was 21 days. WilHunter is expected to complete repairs mid-June and will then continue to its next client in its drilling program in the Central North Sea. A further update will be released upon re-commencement of normal operations. Awilco Drilling currently has a total backlog of approximately USD 394 million.
WilHunter is one of Awilco Drilling’s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1,500 feet.
Aberdeen, 4 June 2012
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.