Peak contracts jackup for Australia

Aug. 23, 2006
Peak (Asia Pacific) Pty. Ltd. has contracted Premium Drilling's jackup WilCraft for 13 months of work offshore Australia.

Offshore staff

OSLO, Norway -- Peak (Asia Pacific) Pty. Ltd. has contracted Premium Drilling's jackup WilCraft for 13 months of work offshore Australia.

The contract value is $101-186 million, dpending upon whether Peak exercises an option to bring the contract to a total of two years.

WilCraft is under construction at Keppel FELS Shipyard in Singapore and is scheduled for delivery in 4Q06. The rig is Awilco Offshore's second newbuild and is equipped for HT/HP drilling in 400 ft. of water.

8/23/06