Amedeo Resources PLC (LON:AMED)

Amedeo Resources PLC (LON:AMED)

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Amedeo Resources PLC RNS Release

Statement re. Media Reports

RNS Number : 3255Z
Amedeo Resources PLC
05 February 2014

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 8304

Tel: + 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. 


This information is provided by RNS
The company news service from the London Stock Exchange

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