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Aban Offshore contract with Exxon Neftegas

April 15, 2008

Aban Offshore has informed us that the company has signed a contract with Exxon Neftegas for the deployment of the jack-up rig Murmanskaya Offshore Russia for a 2 well programme. The estimated revenues from the contract (with an estimated duration of approx 160 days) is approximately US$ 34 million.

The deployment is to commence in direct continuation of its present contract which is expected in June 2008.

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