SSP Offshore Inc. Announces Revised MOU Agreement to Collaborate on Brazilian Hub / Terminal Projects
August 24 2012 - 4:30PM
PR Newswire (Canada)
HOUSTON, Aug. 24, 2012 /CNW/ - SSP Offshore Inc. (the
"Corporation") announces that it has entered into a revised
Memorandum of Understanding (the "Revised MOU") with its
prospective Brazilian joint venture partner under which the parties
agree to continue their efforts to jointly commercialize the
Corporation's SSP Hub circular hull design as a logistics base in
Brazilian territorial waters. Under the Revised MOU, the parties
will work towards finalization of the definitive joint venture
framework documents within 90 days. The Revised MOU
provides for the advance by the Brazilian entity of certain
exclusivity fees to the Corporation which will support the
Corporation's ongoing commercialization efforts of the SSP Hub
circular hull design. In addition, the Corporation announced that
it has filed its second quarter financial statements and associated
MD&A for the period ending June 30, 2012. Copies of these
documents are available online at www.sedar.com. About SSP Offshore
Inc. SSP Offshore is a public company listed under the symbol "SSZ"
on the TSX Venture Exchange. The Corporation is actively
commercializing its proprietary SSP® FPSO platform design in two
formats: (i) SSP Base; and (ii) SSP Plus. Visit the company's
website at www.sspoffshore.com for more information. The TSXV has
neither approved nor disapproved of this press release. SSP
Offshore Inc. CONTACT: L. Daniel Wilson, President, at (403)
358-1110 (phone); or viaemailat dwilson@sspoffshore.com.
Copyright