EXHIBIT 10.21(B)
SIDE LETTER NO 2. 9TH APRIL 1998
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Petrodrill Construction Inc
Suite 000
Xxxxxxx Xxxxxx
PO Box N 8188
Nassau
Bahamas
TDI-Halter L.P.
0000 Xxxx Xxxx Xxxxx
Xxxxxxx
Xxxxx 00000
Gentlemen,
Hull No 1829
We refer to the contract executed between us today in respect of the above hull.
This letter serves to confirm the agreement between us that we shall have the
option by way of Purchasers Modification, to delete the provision of Builders
All Risk Insurance per clause 11.2 from your workscope and provide same
ourselves.
In this event you confirm that you will provide us with a credit against the
Contract Price which will reflect the higher of your evidenced quoted cost for
the same or USD 400,000.
Yours faithfully
/s/ XXXXX XXXXX
Xxxxx Xxxxx
Attorney-in-Fact
WE HEREBY ACKNOWLEDGE OUR UNDERSTANDING AND ACCEPTANCE OF THIS LETTER:
/s/ XXXXXXX X XXXXXXXX JNR.
XXXXXXX X XXXXXXXX JNR.
TDI-HALTER INC.
9TH APRIL 9, 1998
