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Amedeo Resources PLC RNS Release

Completion of Physical Build of Explorer 1


RNS Number : 6986J
Amedeo Resources PLC
21 December 2015
 



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

For further information please visit www.amedeoresources.com or contact:

Enquiries:

Glen Lau
Chief Executive Officer

Amedeo Resources Plc
Tel office: +44 20 7583 8304   

Zafar Karim
Executive Director

Amedeo Resources Plc 
Tel office: +44 20 7583 8304   

Paul Shackleton
Nominated Adviser & Broker

WH Ireland
Tel office: +44 207 220 1666

Elliott Hance
Joint Broker

Beaufort Securities Limited
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
 
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