The deal to sell the jack-up drilling rig is still on, but it has been delayed slightly after the purchaser said it needed a bit more time to get the finances and staff for the rig in place.
The makers of Explorer 1, YZJ Offshore – in which Amedeo has a 40% stake – had originally hoped to deliver the rig by the end of this year.
Even in the unlikely event that this original deal falls through, YZJ said it was sure it could find another buyer for the 350ft rig.
The Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig – to give it its full name – is YZJ’s first rig order.
Everything on its end of the deal is complete, Amedeo said, other than the final checks which are normally carried out just immediately prior to delivery.
Shares were down 16% to 23.4p on Wednesday afternoon.