ATW Atwood Oceanics, Inc. (delisted)

EARNINGS- HOUSTON, Nov. 28 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc., (NYSE:ATW), Houston-based International Drilling Contractor, announced today that the Company earned net income of $54,149,000 or $1.69 per diluted share, on revenues of $121,604,000 for the quarter ended September 30, 2007, compared to net income of $23,179,000 or $0.74 per diluted share, on revenues of $81,817,000 for the quarter ended September 30, 2006. For the fiscal year ended September 30, 2007, the Company earned net income of $139,024,000 or $4.37 per diluted share, on revenues of $403,037,000 compared to net income of $86,122,000 or $2.74 per diluted share, on revenues of $276,625,000 for the fiscal year ended September 30, 2006. FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2007 2006 Revenues $121,604,000 $81,817,000 Income before Income Taxes 61,309,000 27,885,000 (Provision) Benefit for Income Taxes (7,160,000) (4,706,000) Net Income 54,149,000 23,179,000 Earnings per Common Share - Basic 1.71 0.75 Diluted 1.69 0.74 Weighted Average Shares Outstanding - Basic 31,673,000 31,044,000 Diluted 32,099,000 31,534,000 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2007 2006 Revenues $403,037,000 $276,625,000 Income before Income Taxes 159,959,000 91,836,000 (Provision) Benefit for Income Taxes (20,935,000) (5,714,000) Net Income 139,024,000 86,122,000 Earnings per Common Share - Basic 4.44 2.78 Diluted 4.37 2.74 Weighted Average Shares Outstanding - Basic 31,343,000 30,936,000 Diluted 31,814,000 31,442,000 NEW CONTRACT AWARDED TO ATWOOD SOUTHERN CROSS - Atwood Oceanics, Inc. also announced that the ATWOOD SOUTHERN CROSS, owned and operated by our wholly owned subsidiary Atwood Oceanics Pacific Limited, has been awarded a contract by ENI Spa AGIP Exploration & Production Division ("ENI") to drill two (2) wells plus options for two (2) additional wells. The contract provides for an operating dayrate of $406,000. The drilling of the two (2) firm wells is estimated to take one hundred-fifty (150) days to complete and if both option wells are drilled, the contract could extend another ninety (90) days. This contract will commence immediately upon the rig completing its current contract commitments with Melrose Resources and Turkiye Petrolleri A.O. ("TPAO") (estimated February 2008). The contract provides that ENI will provide the tow vessel to move the rig to its drilling site and pay a dayrate of $365,000 during the mobilization period (estimated ten (10) days), as well as pay a dayrate of $395,000 while the rig is being certified by Italian authorities (estimated ten (10) days) prior to commencing drilling operations. DATASOURCE: Atwood Oceanics, Inc. CONTACT: Jim Holland, +1-281-749-7804, for Atwood Oceanics, Inc. Web site: http://www.atwd.com/

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