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PDR ASA - EXTENSION OF DRILLING CONTRACT DEEP VENTURE

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Due to additional time required to finalize
drilling operation, Mærsk Oil Angola AS as an
user under the present contract with Exxon, has
requested Venture Drilling AS for an extension of
the contract.

Venture Drilling AS has agreed to a six months
extension started from the 25 January 2009 until
25 July 2009 at a dayrate of USD 425.000 after
withholding tax.


For further information : please contact Mr. Lars
Moldestad - phone +47 55 22 47 10.


Bergen/Oslo, 10 July 2008.