EDC Rig 90, the first addition to our fleet in 2005, successfully spudded its first well for Khlada Petroleum Company (KPC) at 10:00 a.m on the morning of 20 March 2005.
EDC Rig 90 is an externally guyed 750 HP Dreco K-160 self propelled land workover
rig. The rig was built in Drecoís facility in Edmonton, Alberta and was completed at the beginning of the year. After shipment and in land transportation, EDC Rig 90 was rigged up and tested in EDCís new rig up facilities at Salam Base. It was subsequently moved to the clientís first location, rigged up once again and accepted for the commencement of our contract.
The contract with KPC is for a period of two years firm with the Operator holding an option for a further one year extension.
EDC Rig 90 is the first of five newbuild workover
units awarded to EDC by KPC all of which are scheduled to spud during 2005.