ATW Atwood Oceanics, Inc. (delisted)

HOUSTON, April 28 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:ATW) (a Houston based International Offshore Drilling Contractor) announced today that the ATWOOD SOUTHERN CROSS (owned and operated by its wholly owned subsidiary Atwood Oceanics Pacific Limited) has been awarded a contract by Turkiye Petrolleri A.O. ("TPAO") to drill three (3) firm wells with options to drill three (3) additional wells off the coast of Turkey. The contract provides for an operating dayrate for the three (3) firm wells of $290,000, with an operating dayrate of $320,000 for the option wells. TPAO will provide a tow vessel and dayrate during rig mobilization and is obligated to pay on behalf of the Company all Turkish income tax assessments. The drilling of the three (3) firm wells is estimated to take one hundred days to complete. If all of the option wells are drilled, the drilling program could extend another one hundred days. This contract will commence immediately upon the rig completing its current commitments in the Black Sea for Melrose Resources and Toreador Turkey Limited (estimated May - July 2007). It now appears that the rig's contract with ENI will not be completed until August - September 2006. Statements contained in this report 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 the construction and repair of a rig; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism; risks associated with a possible disruption in operations due to war; 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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