AMED Amedeo Res

TIDMAMED

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          Tel: + 44 (0) 20 7583 
                                               8304 
                             Zafar Karim 
                                               Tel: + 44 (0) 20 7583 
                                               8304 
 Daniel Stewart & Company   Paul Shackleton   Tel: + 44 (0) 20 7776 
  Plc                                          6550 
 Beaufort Securities        Guy Wheatley      Tel: +44 (0) 20 7382 
  Limited                                      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

END

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