Bristow Group Inc. Announces Extension of Shell Contract in Nigeria.HOUSTON -- Bristow Group Inc. (NYSE NYSE See: New York Stock Exchange :BRS BRS - Big Red Switch. This abbreviation is fairly common on-line. ) today announced that the Company has extended its contract with Shell Nigeria Shell Nigeria is the colloquial name for the Shell Petroleum Development Company of Nigeria Limited (SPDC). The company is a joint venture operated by Royal Dutch Shell which accounts for more than forty percent of Nigeria's total oil production (899,000 barrels per day Exploration and Production Company Limited (Shell Nigeria) for an additional twenty-four months to March 31, 2008. Under this contract, the Company will provide and operate two AS332 Super Puma helicopters and two Sikorsky S76 helicopters. Contract revenues that could be generated over this twenty-four month period total an estimated $53 million. The contract is not cancelable by Shell Nigeria during the first 12 months and, in the second 12 months, Shell Nigeria may cancel the contract only after giving 180 days notice to the Company. Statements regarding the Company's or management's intentions, hopes, beliefs, expectations or predictions of the future, including statements regarding potential future revenues generated under the contract described previously, are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained in the Company's SEC filings, including but not limited to the Company's annual report on From 10-K for the year ended March 31, 2005, and the Company's reports on Form 10-Q Form 10-Q See 10-Q. for the quarters ended June 30, 2005, September 30, 2005 and December 31, 2005, which are available free of charge on the SEC's website at www.sec.gov. The Company disclaims any intention or obligation to revise any forward-looking statements, including financial estimates, whether as a result of new information, future events or otherwise. Bristow Group Inc. is a major provider of helicopter services to the oil and gas industry worldwide. Through its subsidiaries, affiliates and joint ventures, the Company provides transportation services in most oil and gas producing regions including the U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east and Alaska, the North Sea, Africa, Mexico, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , Australia, Russia, Egypt and the Far East. Additionally, the Company is a leading provider of production management services for oil and gas production facilities in the U.S. Gulf of Mexico. The Company's Common Stock trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol BRS. |
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