ATW Atwood Oceanics, Inc. (delisted)

Atwood Oceanics Announces Commitment for ATWOOD BEACON HOUSTON, May 19 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (Houston-based International Offshore Drilling Contractor) announced today that Conoco Phillips Indonesia Ltd. ("COPI") has given a commitment to utilize the ATWOOD BEACON a drilling program offshore Indonesia which includes the drilling of three firm wells plus options for four additional wells. The three firm wells have a combined expected duration of ninety days, with the option wells, if exercised, having an expected duration of thirty days each. This commitment provides for a dayrate of $90,000 for the three firm wells, a dayrate of $82,400 for any option wells drilled, and a payment of a $800,000 mobilization fee. The COPI work will commence immediately upon the rig completing its current contract in Malaysia which is estimated to be in June 2004. Execution of a formalized contract with COPI is pending final Indonesian governmental approval which is expected to occur before the end of May 2004. 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, 2003, 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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