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AUGUST 2008 ISSUE

BEATING THE PIRATES
What's the best way for a shipowner to avoid having a ship hijacked by pirates?

Reroute the ship even if it means a huge diversion
Stay within recommended safe limits and patrolled areas
Hire an on-board security team
Just hope for the best

October 6, 2008

$ 15 million Ike clean-up contracts for Clough

Hurricane Ike has brought Australia's Clough Limited (ASX:CLO) a further US$15 million work for its vessel, Normand Clipper (on long term charter to Clough from Solstad Offshore ASA) in the Gulf of Mexico.

Clough has secured agreements with Oceaneering International for provision of the Normand Clipper in the role of subsea construction vessel for pipeline repairs for Shell Oil and Taylor Energy.

In addition, Apache Corporation has extended its existing agreement with Clough for the provision of the Normand Clipper immediately following the Oceaneering work.

The Normand Clipper is to continue remediation works for both clients in the Gulf of Mexico in the wake of Hurricane Ike through most of first quarter 2009.

John Smith, Clough's Chief Executive Officer stated: "We are delighted to extend our close working relationship with both Apache Energy and Oceaneering. The additional commitment will see the vessel fully employed until the start of preparation for the Neptune regasification project off Boston with APL."


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