Apexindo secures $2.9m contract from EMP Kangean

JSX-listed drilling firm PT Apexindo Pratama Duta has successfully obtained an onshore drilling contract service from EMP Kangean Ltd. for a drilling project at Kangean Block, East Java.

The contract value achieved by Apexindo Rig 8 is around US$2.9 million for a seven month period which will commence on July 2006.

Rig 8 has been idle for a period of time since the Company has not been able to obtain a suitable contract for this particular rig. ?We are glad that Rig 8 has finally found a suitable project from EMP to support their drilling project at Kangean Block. These continuous success will give a positive impact on our onshore utilization rate?, explains Hertriono Kartowisastro, Apexindo?s President Director.

Rig 8 is still in the mobilization process to the designated drilling location and is expected to operate immediately. (denny)