Thecontract was awarded to KS Drilling, an 80%-owned subsidiary of KSEnergy, and will see it provide a new 300-foot drilling rig to thejoint venture for one-year, with the option to extend for a furtheryear.
KSEnergy said the contract was due to commence in the second quarterand was valued at roughly $58 million, excluding the potentialone-year extension period.
Thecompany said the contract was not expected to have any materialeffect on its earnings per share for the current financial year.
