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Ability Drilling AS Ability Drilling land rig no. 1 formally started its drilling operation in Jordan at Monday June 9.
The drilling start confirms the Company's expectations from the first quarter report. Land rig no.1 will record revenues from the current quarter, including payment for operational preparations from the beginning of June.
- Both the mobilization, final acceptance test, and the necessary training of the personnel have been executed, says Mr. Eikeland, who is very pleased with the performance of the operational crew. - The operation so far has confirmed the competitive advantages we expected from the new generation of land rigs, and our core competence in drilling, he adds.- This has displayed our ability to perform in one of our core markets, says Mr. Eikeland.
The initial contract with Porosity is for drilling for the rest of 2008. There are several options for continued activities in Jordan and in other countries in the MENA market currently addressed by the company. The demand for new land rigs in the area is considerable, and the interest from potential clients is high.
Ability Drilling's land rig no.2 is scheduled for delivery to Geoenergie Bayern in June/July 2008 and planned start up of drilling is September. The drilling target here is water for geothermal energy production.
For further information, please contact:
CEO Hans Petter Eikeland, phone +47 56 32 43 43, or +47 93 20 81 77
