EXHIBIT EX. - 99.1

                       ATWOOD ANNOUNCES CONTRACT EXTENSION
                                  FOR RICHMOND


Houston, Texas
6 March 2007


FOR IMMEDIATE RELEASE


     On March 6, 2007, Atwood Oceanics,  Inc. (NYSE: ATW),  announced that HELIS
OIL & GAS ("HELIS") has exercised its one remaining  option to have the RICHMOND
drill four (4)  additional  wells  immediately  following the  completion of its
current  commitment  with HELIS (May/June 2007) at an agreed dayrate of $80,000.
The  drilling  of these  four (4)  additional  wells is  expected  to take until
September/October 2007 to complete.



     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  including;  the Company's  dependence on the oil
and gas industry;  the risks involved the  construction  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 a war with Iraq;  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, 2006, filed with the Securities and Exchange Commission.