ATW Atwood Oceanics, Inc. (delisted)

HOUSTON, Oct. 24 /PRNewswire-FirstCall/ -- Atwood Oceanics, Inc. (NYSE:ATW) (a Houston based International Offshore Drilling Contractor) announced today that on October 21, 2005, it sold its spare 15,000 P.S.I. BOP stack to a Norwegian company for approximately $15 million, which will result in an after tax gain of approximately $6 million or $.38 per diluted share. The Company completed this stack in 2003 for a possible future contractual requirement; however, the stack has never been utilized and the Company has no current contractual requirements for the use of this stack. Statements contained in this report with respect to the future are forward-looking statements. These statements reflect management's reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors: the Company's dependence on the oil and gas industry; the risks involved in the construction and repair of a rig; competition; operating risks; risks involved in foreign operations; risks associated with possible disruption in operations due to terrorism; risks associated with a possible disruption in operations due to war; and governmental regulations and environmental matters. A list of additional risk factors can be found in the Company's annual report on Form 10-K for the year ended September 30, 2004, filed with the Securities and Exchange Commission. DATASOURCE: Atwood Oceanics, Inc. CONTACT: Jim Holland of Atwood Oceanics, Inc., +1-281-749-7804 Web site: http://www.atwd.com/

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