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Aker Kvaerner Winds Frontier Drilling Contract

Maritime Activity Reports, Inc.

July 6, 2006

Aker Kvaerner has been awarded a contract with Frontier Drilling USA Inc. for delivery of a drilling equipment to the Frontier Peregrine II drillship. The total contract value for Aker Kvaerner is approximately $17m. The equipment package will be delivered in 2007.

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