Aban Offshore secures new contract from Husky Oil China Ltd

Aban Offshore Ltd has announced with reference to the earlier announcement dated April 15, 2008 regarding a contract that has been signed with Exxon Neftegas Ltd for the deployment of the Jack-up rig Murmanskaya Offshore Russia for a 2 well programme which is expected to commence in June 2008, that Exxon Neftegas has terminated its contract with Beta Drilling regarding the rig Murmanskaya.Further the Company has informed that, it has received a Letter of intent for one well contract with Husky Oil China Ltd for the same rig Murmanskaya for a period of approximately 50 days. The estimated revenues from the contract is approximately USD 10.53 million.The stock was trading at Rs.4023.90, up by Rs.140.40 or 3.62%. The stock hit an intraday high of Rs.4088 and low of Rs.3914.80.The total traded quantity was 89645 compared to 2 week average of 93001.