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chelseapaul - Tue, 02 Jan 07 :

Petrolia Drilling Ltd has entered into a contract with Apache North Sea Limited with effective date as of 11 January 2006 for the provision of SS Petrolia on the United Kingdom Continental Shelf. The initial term of the agreement shall be six months from the commencement date. If SS Petrolia is not accepted as being in contractual condition on 7 November 2006, Apache may terminate the agreement. The daily operating rate is agreed to be USD 175,000.

Confirmation that the rig is not going to another company anytime soon, so even with the weather delays out there at the mo, GE will spud.


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