Rowan extends North Sea contract for Gorilla VII

Rowan Companies Inc. has entered into a one-year extension of its drilling contract for the Rowan Gorilla VII in the North Sea.

Offshore staff

(North Sea) - Rowan Companies Inc. has entered into a one-year extension of its drilling contract for the RowanGorilla VII in the North Sea.

Gorilla VII is currently working offshore Denmark under a one-year term contract that contained an option for a second year.

By the exercise of the option, the rig's commitment is now extended to August 2007.

The extension will generate additional drilling revenues of approximately $93 million.

02/16/06

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