Exxon Neftegas Terminates Murmanskaya Contract, Husky Signs LOI

This has reference to the notification dated 15th April 2008 regarding a contract that has been signed with Exxon Neftegas Limited for the deployment of the Jack-up rig Murmanskaya Offshore Russia for a 2 well programme which is expected to commence in June 2008.

This is to inform that Exxon Neftegas has terminated its contract with Beta Drilling regarding the rig Murmanskaya.

Further we wish to inform that the Company has received a Letter of Intent for one well contract with Husky Oil China Ltd for the same rig Murmanskaya for a period of approximately 50 days. The estimated revenues from the contract is approximately USD 10.53 million.

Source: Aban Offshore

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