Amedeo Resources PLC Update on Le Tourneau Super 116E Class rig (5149S)
December 21 2016 - 9:48AM
UK Regulatory
TIDMAMED
RNS Number : 5149S
Amedeo Resources PLC
21 December 2016
21 December 2016
Amedeo Resources PLC ("Amedeo")
Update on Le Tourneau Super 116E Class design offshore jack up
drilling rig
Amedeo has been informed that, as stated in the interim results,
the build and commissioning of Jiangsu Yangzijiang Offshore
Engineering Co. Ltd's ("YZJ Offshore") first rig order, the Le
Tourneau Super 116E Class design self-elevating mobile offshore
jack up drilling rig, ("Explorer 1"), has been completed, pending
final checks which are customarily made by the purchaser
immediately prior to delivery.
The purchaser is in the process of securing financing and
employment for the rig, and is in discussions with third parties
regarding both. The purchaser has requested that delivery of the
rig be delayed until financing and an employment are secured.
YZJ Offshore is confident that Explorer 1 will be sold either to
the original purchaser or failing which, to another party. Explorer
1 is an established and advanced design with a popular footprint
and at 350ft, is relatively efficient to operate.
Further announcements will be made as appropriate.
ENDS
For further information please visit www.amedeoresources.com or
contact:
Enquiries:
Glen Lau Zafar Karim
Chief Executive Officer Executive Director
Amedeo Resources PLC Amedeo Resources PLC
Tel office: +44 20 7583 8304 Tel office: +44 20 7583 8304
Paul Shackleton Elliott Hance
Nominated Adviser & Broker Joint Broker
WH Ireland Beaufort Securities Limited
Tel office: +44 113 394 6600 Tel office: +44 20 7382 8300
Notes
Amedeo Resources PLC is an investment company whose policy is to
invest principally, but not exclusively, in the resources and
resources infrastructure and asset sectors. Amedeo has a deep and
broad global network and wide contact base in these sectors,
including in East and South East Asia and the Middle East which it
leverages to source and make investments. These sectors exhibit
high growth and are strategically important. Amedeo is a proactive
investor which assists its investee companies to grow by providing
investment, expertise and contacts.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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