Hydro Drilling International Operating and Sales offices and warehouse was moved on 10 December 2008 in the new headquarters of Ravenna at the following address:

Via Buozzi, 56

48100 Ravenna

Tel.+39 0544 683311

HH220 “Archimede” spudded the first well for Stogit SpA.

Functional tests on HH220 “Archimede” successfully performed at Drillmec yard. The rig will now be moved to the close by yard for completing rig-up operation in order to start operations by January 2008.

HH220 “Leonardo” spudded the first well for Stogit SpA.

Contract for 700HP rig awarded to Hydro Drilling MR 7000. A new contract for workovering activities, with duration of up to two years has been awarded today to Hydro Drilling International SpA.

Inauguration of the new HH220 “Leonardo” at Drillmec yard. The Italian Minister of Industrial Activities has participated to the Open Day for the inauguration of the new HH220 “Leonardo”. The happening gathered more than 100 people coming from ENI, Stogit, UNMIG, Ministry of Industrial Activities, Public Authorities and contractors.

Rig Massarenti MR4000 available.

The MR4000 owned by Hydro Drilling International SpA has successfully completed activities for Edison and Vega Oil in Southern Italy, and will be now staked at the logistic base of Bosco Marengo. The rig is available for dirty bareboating in Italy or abroad. The rig, which has been completely refurbished on October 2006, has since then a record of  0 hours of stops for repair.

Contract awarded to Hydro Drilling International SpA for procuring a new hydraulic rig for gas storage fields in Italy. The contract, which will have a duration of up to three years, will allow HDI to purchase a second Drillmec HH220-FA. The rig is expected to start operations during the month of January 2008.