Completion of Physical Build of Explorer 1

21 December 2015

Amedeo Resources Plc ("Amedeo")Completion of Physical Build of Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig ("Explorer 1")

Amedeo is pleased to announce that the physical build 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.

Testing, including to American Bureau of Shipping classifications, and commissioning, which constitute a key part of the delivery package, have already commenced and are expected to be completed during 2016.

Glen Lau, Chief Executive Officer, commented:

"We are pleased that physical build of YZJ Offshore's first rig is complete. Following successful testing and commissioning, the rig will be delivered to the client. The physical completion of the first build is a key milestone from several perspectives, including in establishing the good reputation of a yard."

ENDS

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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.