Awilco Drilling Limited has entered into a Memorandum of Understanding (MOU) with SPD Limited for the semi-submersible drilling rig, WilHunter. The MOU is for 1 firm and 6 optional wells in the UK .
Awilco Drilling also confirms that it has signed a Letter of Intent (LOI) with Nautical Petroleum PLC for 1 firm well and 1 optional well as part of the above mentioned SPD multi-client, multi-well 2011 drilling programme. The contract value for the firm part is approximately USD 5 million. The contract is expected to commence early May 2011.
Wilhunter is presently completing its 5 yearly Special Periodic Survey and an accommodation upgrade at Remontowa Shipyard in Poland , and is scheduled for delivery around the end of first quarter 2011. Wilhunter is one of Awilco Drilling`s two Enhanced Pacesetter semi-submersibles and is equipped for drilling in water depths up to 1500 ft .
Awilco Drilling Limited is a UK based offshore drilling company owning and operating two semi-submersible drilling rigs. The Company is listed on the Norwegian OTC under the ticker code AWDR.
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Source:Awilco Drilling, February 10, 2011;