LOI for Murmanskaya terminated

A letter of intent signed on May 12,2008, between Aban Offshore Ltd. and Husky Oil China Ltd. for a one-well contract for the jackup rig, Murmanskaya has been terminated.

Offshore staff

CHENNAI, India -- A letter of intent signed on May 12,2008, between Aban Offshore Ltd. and Husky Oil China Ltd. for a one-well contract for the jackup rig, Murmanskaya has been terminated.

Previously, theMurmanskaya was contracted to Exxon Neftegas Ltd. and expected to begin a program offshore Russia in June 2008. However, Exxon Neftegas terminated its contract with Beta Drilling regarding the rig Murmanskaya in May.

06/30/2008

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