over 20p now to buy9 Nov 2016 10:05
Awaiting news due anytime within next 8 weeks..
• The contract value for the Explorer 1 rig was upgraded in July 2013 to $175m.
• With respect to new orders, YZJ Offshore continues discussions with potential customers for further orders with the benefit that it now has a rig that is physically complete to showcase. This is important from both a marketing perspective and also from a reputational perspective.
• Progress at Jiangsu Yangzijiang Offshore Engineering Co. Ltd's marine vessel yard on its first order, a Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig "Explorer 1", continues and is expected to be ready for delivery by the end of 2016.
• 33m shares in issue, net assets $20.6m, $4m in cash at last report, warrants on table at 50p minimum