Eurasia Drilling: Jack-Up Saturn’s Contract Cancelled

Eurasia Drilling Company Limited announces that it has received a letter of early termination of the contract for its jackup rig SATURN effective from October 8’th 2015. The current contract was expiring on 8’th January 2016. The early termination fee consists of 100% of the contract rate for 30 days from the effective date of the early termination followed by 85% of the contract rate for the remainder of the term (or 62 days).