Koil Energy Solutions Inc. (KLNG)

[JoeSmith]

Frontier Drilling, a quick dd summary.



--Working under contract for Petrobas -

Frontier Drilling ASA receives USD32m contract extension from Petrobras
Nordic Business Report, Dec 16, 2002
http://findarticles.com/p/articles/mi_m0HXI/is_2002_Dec_16/ai_n25058814

-ARCHIVE March 2006-
"Heavy crude production successful in Brazil's deep water"
Proper study and implementation brings Jubarte field's thick crude to market.

Mats Rosengren and Arild Svendsen, Frontier Drilling do Brasil, Vitoria, Brazil

In the deep waters off Brazil, Petrobras and Frontier Drilling do Brasil have carried out early production of heavy crude since October 2002 at Jubarte field, offshore Espirito Santo state. The Seillean, a dynamically positioned (DP) vessel on contract to Petrobras, was used as the floating production storage and offloading (FPSO) vessel.
http://www.worldoil.com/Magazine/MAGAZINE_DETAIL.asp?ART_ID=2828&MONTH_YEAR=Mar-2006

--Working for Petrobas since 1998-

Seillean is the world’s only dynamically positioned, self-propelled deepwater FPSO that extracts oil via a rigid riser system. These capabilities allow Seillean to mobilize to deepwater locations and quickly connect to sub-sea wells and commence production without the assistance of offshore support vessels.

Seillean has worked continuously in Brazil for Petrobras since late 1998. Seillean’s unique design is geared for early production and well-testing.
http://www.frontier-drill.com/Fleet/Seillean/tabid/74/Default.aspx


--Shell and Frontier-
Shell and Frontier Team Up to Build Drillships
GustoMSC Tuesday, October 16, 2007


Shell EP Offshore Ventures Ltd. and Frontier Drillships Ltd., a subsidiary of Frontier Drilling, have signed a deepwater/arctic drillship Joint Venture agreement.

Under the agreement, Shell and Frontier will build and rollout a new drillship concept, known as the "Bully" rig. GustoMSC designed the "Bully" as a customization of its proprietary PRD12,000 design drillship, adapting the unit for a Huisman-Itrec Multi-Purpose Tower drilling system.

The "Bully" rig design offers a flexible, smaller but highly capable, vessel suited for deepwater and arctic drilling, while reducing the construction and operational costs compared to other deepwater drill ships of similar capacity.
http://www.rigzone.com/news/article.asp?a_id=51500

--Moody's release on Frontier Drilling-
Jul 23, 2007
The B3 Corporate Family Rating is supported by Frontier's position as a niche
provider of offshore contract drilling and production services to the oil and
gas industry with some vessels that have Arctic drilling capabilities; the
firm, long-term contracts for the upgraded drillships with affiliates of Royal
Dutch Shell provide visible cash flows for the ensuing three years for each
contract and also appear to contain certain protections of cashflows against
cancellation; the current contracts for its two currently operating ships with
Petronas, and Petrobras, which provide cash flows to service the debt while the
upgrade of the Deepwater is completed and the scheduled commencement of the
Discoverer this month under its contract with Shell; and the favorable outlook
for the offshore drilling market at least over the next year which should help
in supporting asset values.
http://uk.reuters.com/article/oilRpt/idUKWNA454120070723

--Frontier Drilling homepage-
http://www.frontier-drill.com/