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Tuesday, April 15, 2008 10:25:45 AM
Question to Dan:
There is a lot of concern about the status of the completion of the work on the Aban Abraham. It seem Addax should know what the status of the work is and the estimated completion date. Can you update us on this.
Dan's Answer
The status is the same. The retrofitting is continuing and is running behind schedule. Addax has indicated that they are working to mitigate any potential delays in drilling by 1) seeking a rig of opportunity in the region – their CFO indicated that they have been in talks with Total and Chevron about rigs in the region; and 2) seeking to move to an earlier drilling position on the Aban Abraham once it is sailing (we currently are slated to get the ship after Kosmos and there are efforts underway to move up.
These are merely initiatives that are taking place in an effort to begin drilling in JDZ Block 4 as early as the fourth quarter of this year. Addax continues to indicate that this is their plan. Investors should understand that the timeline will remain somewhat fluid until all of these uncertainties are ironed out.
Dan Keeney, APR
DPK Public Relations
214-432-7556 (DFW Area)
832-467-2904 (Houston)
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