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ATWOOD BEACON

400’ Suriname/Guyana MURPHY SURINAME

OIL COMPANY,

LTD./REPSOL

EXPLORATION

S.A./TEIKOKU OIL

(SURINAME) CO.

LTD. (INPEX)

(“BEACON

OPERATOR

GROUP”)

FIRM WORK –

August/September

2011

(4 wells)

$115,000

The rig commenced dayrate on

October 11

th

.

The contract provides an option to

drill one (1) additional well at the

current contracted dayrate. This

option must be exercised by 10 days

after the start of the second firm
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