Major Drilling at Grasberg

On May 4, Major Drilling announced that P.T. Pontil Indonesia, a wholly owned subsidiary, had been awarded a three-year extension to its existing contract to supply surface and underground exploration drilling at P.T. Freeport Indonesia’s Grasberg mine, the world’s lrgest gold mine, in the Province of West Papua.

PT Pontil’s existing service contract was due to expire on January 31, 2008. This extension now takes the contract term through to January 31, 2011. Over the past four years there has been in excess of 120,000 m of drilling conducted each year. It is currently anticipated that this level of drilling will continue. PT Pontil maintains its head office in Jakarta Indonesia, with a site office located at the Freeport mine site. In addition to this on-site support, the Indonesian operations are supported from Major Drilling’s office located in Brisbane, Australia.