Aban Offshore to deploy rigs

Aban Offshore Ltd has informed that a Letter of Intent has been received for the deployment of the newly built jack-up rig Aban VIII in the Middle East for a 18 wells plus 4 optional wells programme. The estimated revenues from the Contract (with an estimated duration of approx. 4 years) is approx. USD 300 million. The deployment is to commence following delivery of the rig, which is expected in the second quarter of 2008.