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Capital Drilling Limited Contract Win

Capital Drilling Limited (LON:CAPD), a leading drilling solutions company focused on the African markets, has today announced that it has been successfully awarded a delineation drilling contract with Canadian-based Sama Resources Inc. at its Yepleu property in Côte d’Ivoire. Drilling is anticipated to commence in November with the initial program being 6,000 metres of diamond core drilling, targeting semi-massive and massive polymetallic sulphide targets for Nickel-Copper-Cobalt-Palladium.

The contract is Capital Drilling’s first in the country following its strategic expansion into West Africa where the Company now has 31 rigs, representing a third of its rig fleet. This contract will initially utilise two diamond drill rigs, sourced from the Group’s base in Yamoussoukro, which was established in H1 2018 as part of the Group’s strategic growth focus into the West African market.

Commenting on the award of the Sama contract, Jamie Boyton, Capital Drilling Limited Executive Chairman, said:

“It is very pleasing to see our increased presence in the high-growth West African region continue to deliver results and we look forward to starting our first contract in Côte d’Ivoire. With the increased fleet and new infrastructure in place, we are well positioned to continue to secure additional work in the country in the future.”