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    Ocean Rig signs agreement with PanCanadian

    Contracts, Tenders and Rates // November 30, 2001
    Ocean Rig ASA says it has signed a Term Sheet and Commitment Letter with PanCanadian Petroleum Limited regarding a short-term revolving credit facility totalling US $20 million. The facility will mature on delivery of the company's second rig, Eirik Raude, under the drilling contract with PanCanadian. The loan will be secured with a mortgage in the Company's fourth baredeck.

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