ATW Atwood Oceanics, Inc. (delisted)

HOUSTON, Jan. 25 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:ATW) (a Houston based International Offshore Drilling Contractor) announced today that the RICHMOND current contract with Helis Oil & Gas Company ("Helis") has been extended with an award of eight (8) additional wells to be drilled in the U.S. Gulf of Mexico. Helis and the Company have also agreed that the contract could be further extended by up to four (4) wells subject to reaching mutual agreement on dayrate. After completing the drilling of the current well in progress, the rig will now have ten (10) firm wells to drill for Helis, which could take until May/June 2007 to complete. The operating dayrate for the current and next two (2) wells (expected to be completed in May 2006) will be $45,000; while the dayrate for the additional eight (8) wells will be $80,000. 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, 2005, 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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