5 Feb 2014 07:00
5 February 2014
Amedeo Resources plc
("Amedeo" or "the Company")
Statement Re: Media Reports
Amedeo Resources plc (AIM: AMED) notes reports in the media in connection with Jiangsu Yangzijiang Offshore Engineering Co Ltd ("YZJOE") being contracted to build semi-submersible drilling platforms. Amedeo has an indirect 18.6% stake in YZJOE.
Amedeo confirms that YZJOE has reached agreement subject to conditions precedent to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd. In addition, an option on two additional semi-submersible drilling platforms has also been agreed subject to conditions precedent. The total value of the contract and options is approximately USD 1.7bn. Delivery of such platforms takes around three years.
Further announcements shall be made as appropriate.
For further information please contact:
Amedeo Resources plc | Glen Lau
Zafar Karim | Tel: + 44 (0) 20 7583 8304Tel: + 44 (0) 20 7583 8304 |
Daniel Stewart & Company Plc
| Paul Shackleton | Tel: + 44 (0) 20 7776 6550 |
Beaufort Securities Limited
| Guy Wheatley | Tel: +44 (0) 20 7382 8300 |
Newgate Threadneedle | Graham Herring | Tel: + 44 (0) 20 7653 9850 |
About Amedeo Resources plc
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.