Capital Drilling Gets Contracts With BHP Billiton, Allied Gold

Emerging and developing markets drilling company Capital Drilling PLC (CAPD.LN) said Tuesday it has been awarded two separate contracts with BHP Billiton PLC (BLT.LN) in Chile and Allied Gold Ltd. (ALD.AU) in the Solomon Islands, but didn't give any financial details.

Work for BHP will initially involve the deployment of three rigs. The rigs will be carrying out development drilling around the Cerro Colorado copper mine which lies in the Atacama desert. The contract is expected to run until late 2011 and the rigs are expected to start drilling in May, the company said.

As part of the contract with Allied Gold, Capital has deployed one rig to the Solomon Islands, which has recently started development drilling on site. The new contract in the Solomons continues to develop the relationship with Allied Gold, with Capital Drilling currently operating two drill rigs in Papua New Guinea, it said.

Shares at 0708 GMT were up 0.02 pence, or 2%, at 1.02 pence, in a slightly higher Smallcap Market--up 0.2%

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com

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