Tamarind Resources Pte Ltd (“Tamarind”) owner of the Tui Field (PMP 38158) is pleased to announce that it has entered into a contract with COSL Drilling Europe AS (“COSL”) for the semi-submersible rig, Hai Yang Shi You 982 (“HYSY 982”). The contract consists of three (3) firm wells, and options to extend the contract terms for up to one (1) optional side-track development well and up to one (1) optional exploration well, all to be drilled within the Tui permit. The drilling program is due to commence in Q2/Q3 2019.

Ian Angell, CEO of Tamarind, commented: We are very pleased to announce that we have entered into this contract with COSL for the HSYS 982. This rig is a new, sixth generation rig, that will bring a new level of sophistication in the drilling of offshore wells in this region. We are excited by the potential that this campaign brings for Tamarind and to be undertaking this program with COSL, who will provide a rig that meets the highest health, safety, environmental and performance standards.”

We are very excited and look forward to work together with Tamarind in New Zealand, comments Jorgen Arnesen, CEO of COSL Drilling Europe.