ATW Atwood Oceanics, Inc. (delisted)

HOUSTON, Dec. 12 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:ATW) (Houston based International Offshore Drilling Contractor) announced today that the ATWOOD EAGLE, owned by its wholly owned subsidiary Atwood Oceanics Pacific Limited ("AOPL") and operated by an Australian subsidiary of AOPL, has been awarded a one (1) well contract by ENI Australia BV ("ENI") and a one (1) year extension on its current contract with Woodside Energy Ltd. ("Woodside") for their Australian operations. The one (1) well contract for ENI (estimated to take 40 days to complete) will commence immediately upon the rig completing all of its contract commitments (estimated June/July 2007) and provides for a dayrate of $360,000. The one (1) year contract extension for Woodside will commence immediately upon completion of the ENI contract and provides for a dayrate of $420,000. Prior to April 1, 2006, Woodside can elect (with Atwood's consent) to change the one (1) year extension to a two (2) year extension at a dayrate of $405,000 or to a three (3) year extension at a dayrate of $390,000. Upon completion of its current well for Woodside, the ATWOOD EAGLE has current commitments to drill three (3) additional wells for Woodside and nine (9) firm wells plus five (5) option wells for BHP Billiton Petroleum. These commitments must be completed prior to commencing the one (1) well contract for ENI and the one (1) year extension for Woodside. Statements contained in this release with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors; the Company's dependence on the oil and gas industry; the risks involved in upgrade to the Company's rigs; competition; operating risks; risks involved in foreign operations; risks associated with possible disruptions in operations due to terrorism; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's Annual Report on Form 10-K for the year ended September 30, 2004, filed with the Securities and Exchange Commission. DATASOURCE: Atwood Oceanics, Inc. CONTACT: Jim Holland of Atwood Oceanics, Inc., +1-281-749-7804 Web site: http://www.atwd.com/

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