ATW Atwood Oceanics, Inc. (delisted)

ATWOOD BEACON Expected to Be Repaired by January 2005 HOUSTON, Sept. 22 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:ATW) (Houston-based International Offshore Drilling Contractor) announced that all three legs of the ATWOOD BEACON that were damaged, along with the drilling unit, on July 25, 2004 have now been recovered, transported to Singapore and inspected. As previously announced, the ATWOOD BEACON has been awarded a contract in Vietnam which is to commence between January 15 and April 15, 2005. Based on the current shipyard schedule, the rig should be repaired within the 180 days loss of hire insurance coverage period and be ready to begin operations in Vietnam by the end of January 2005. 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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