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    Atwood announces commitment for Atwood Eagle

    Contracts, Tenders and Rates // December 6, 2002
    Atwood Oceanics has announced that the company has a commitment from Esso Exploration Angola (Block 15) Limited to enter into a contract for the use of the Atwood Eagle todrill three firm wells, plus options for four additional wells, off the coast of Angola.

    In accordance with the commitment, the Company has entered into a contract with a towing company to transport the rig from Greece to Angola, which is estimated to take 55 to 60 days. The tow was scheduled to commence around November 30, 2002.

    The contract, which should be formalized this month, will provide for a day-rate of $83,000 and will include a $2.7 million mobilization payment. If all seven wells are drilled, it couldtake approximately one year to complete the drilling programme.

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