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Atwood Announces Drilling Program for Atwood Beacon

Source: www.gulfoilandgas.com 6/14/2010, Location: Africa

ATWOOD OCEANICS, a Houston-based International Drilling Contractor, announced that the ATWOOD BEACON (owned and operated by our wholly-owned subsidiary, Atwood Oceanics Pacific Limited) has been awarded a contract by Edison International S.p.A. (Ivory Coast Branch) ("EDISON") to drill one (1) well offshore Ivory Coast at an operating dayrate of around $115,000. The drilling program (including mobilization) is expected to take around 70 days to complete.

The rig is expected to complete its current drilling program with Hess Equatorial Guinea, Inc. on June 17, 2010 and is expected to be on zero rate from that date until it commences the Edison contract in early July 2010. Edison will provide the tow vessel and pay a dayrate of around $110,000 for the estimated eight (8) days required to relocate the rig from Equatorial Guinea to the Ivory Coast.

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