CONTRACT EXTENSION FOR BORGLAND DOLPHIN

With references to the stock notice sent Oslo Børs 17th September 2012. The contract has been extended from a 15 well drilling contract to an 18 well drilling contract. The new estimated duration for the drilling program is 3.5 years for the semi-submersible drilling rig Borgland Dolphin. The new estimated contract value is approximately USD 663 million.


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