KCA Deutag - comment

The Company announced a new contract for two rigs in Germany. These contracts are due to commence in Q2 2023, but what is exciting about this contract is these rigs will be involved in the relatively new technology of geothermal Power project with Eavor, a VC fund. No commercial terms are shared at this moment, but given the lack of demand for land rigs in Europe and our understanding that these two rigs are currently idle, this new venture is overall positive.