Amedeo Resources PLC Lays Keel on 350ft Le Tourneau Super Enhanced 116e (2156F)
22 Aprile 2014 - 12:16PM
UK Regulatory
TIDMAMED
RNS Number : 2156F
Amedeo Resources PLC
22 April 2014
22 April 2014
Amedeo Resources plc
("Amedeo" or the "Company")
Lays Keel on 350ft Le Tourneau "Super Enhanced 116e"
Amedeo, the resource and resource infrastructure and asset
investment company, is pleased to announce that, further to the
Company's announcements on 23 October 2013 and 23 January 2014, the
keel of its first rig order, the 350ft Le Tourneau Super Enhanced
116e ("Le Tourneau Super Enhanced 116e"), has been laid on
schedule.
This is a significant step in the construction of the Le
Tourneau Super Enhanced 116e which involved constructing the 500
tonne hull and placing it on the skidway of the Jiangsu Yangzijiang
Offshore Engineering Co. Ltd. ("YZJOE") new rig yard in Taicang
("New Rig Yard"), about 60km north west of Shanghai. Amedeo has an
indirect 18.6% stake in YZJOE.
The laying of the keel, on schedule, demonstrates YZJOE's
ability to construct rigs on schedule and that the New Rig Yard is
now operational. In addition, the New Rig Yard's completion is on
schedule for the middle of this year.
Ramlan Ahmad, Executive Director of Explorer 1 Limited
("Explorer 1"), the customer for the Le Tourneau Super Enhanced
116e said:
"We are impressed by the dedication and professionalism shown by
YZJOE and how the build of its first rig, our Le Tourneau Super
Enhanced 116e is progressing to quality and to schedule. YZJOE's
welding, painting and finish are impressive. In addition, YZJOE's
ability to crank out steel in accordance with the drawings vetted
by our management team is most impressive. Typically, first time
builders of complex drilling machines such as our Le Tourneau Super
Enhanced 116e face difficulties. With progress on schedule and to
quality thus far, we are confident that YZJOE will deliver our rig
on schedule and to quality."
Glen Lau, Chief Executive Officer of Amedeo, said:
"We are delighted with YZJOE's progress on its first rig order
and with its progress in constructing the New Rig Yard which is now
operational. The Le Tourneau Super Enhanced 116e is on schedule to
be delivered to quality and on time. The New Rig Yard is already
operational and due to be completed in the middle of this year.
Explorer 1 is pleased with the progress and build of its order, and
new prospective clients have and are able to tour our facilities
and see our work."
**ENDS**
For further information please contact:
Amedeo Resources plc Glen Lau/Zafar Karim Tel: + 44 (0) 20 7653
9850
Daniel Stewart & Company Paul Shackleton Tel: + 44 (0) 20 7776
Plc 6550
Beaufort Securities Saif Janjua Tel: +44 (0) 20 7382
Limited 8300
Newgate Threadneedle Graham Herring Tel: + 44 (0) 20 7653
9850
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
END
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