Atwood Oceanics signs with Toreador Turkey

Atwood Oceanics Inc. says the Atwood Southern Cross has been awarded a contract by Toreador Turkey Ltd. to drill three firm wells off the coast of Turkey.

Offshore staff

(Middle East) - Atwood Oceanics Inc. says that theAtwood Southern Cross, owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Ltd., has been awarded a contract by Toreador Turkey Ltd. to drill three firm wells off the coast of Turkey.

The contract provides for an operating day rate for all wells of $125,000.

Toreador will provide a tow vessel and day rate for the mobilization of the rig and the obligation to demobilize the rig on day rate from the Black Sea in the event the rig does not have ongoing work in the Black Sea following the Toreador contract.

The drilling of three wells is estimated to take 90 days to complete.

This contract will begin immediately upon the rig completing its contract commitment offshore Bulgaria for Melrose Resources (estimated September/October 2006).

12/07/05

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