PV Drilling has just announced their actual business operation performance of the first five months 2010. PV Drilling achieved VND 2,570 billion and VND 316 billion revenue and profit after tax which respectively yield 50% and 39% as targeted of 2010.

Achieving the encouraging results mentioned above, it is due to the company has been continually improving quality of services and endeavoring to reach stated goal. Besides well-keeping operation of company’s rigs, PV Drilling also excellently performed the bundled services contract with Hoan Vu JOC. The contract ended in the beginning of June 2010 and received positive rating for supplying good services with high operation effectiveness, safety and successfully drilling the well which is announced having complex strata structure in Vietnam. In addition, our high technological application service has also contributed to the performance with high growth rate, especially performance of 2 mud logging stations no.8 and 9 which have just completed investment, already taken to provide services to Hoang Long JOC and Hoan Vu JOC.

With the results of 5 months as above and prospective business performance of the rest months of this year, PV Drilling will continue developing business and expanding market shares. Up to now, PV Drilling is running totally 5 rigs which account for 50% shares of drilling market in Vietnam and other services of the company continue to be accounted for 50% to 90% of market shares. PV Drilling estimates to achieve VND 100 billion for the month of June and totally of more than VND 400 billion for first 6 months of this year. This is fundamental for PV Drilling to have better business performance and over achieve stated goal in following quarters.