5th Feb 2014 09:02
LONDON (Alliance News) - Amedeo Resources PLC saw its shares rise sharply Wednesday after it said that Jiangsu Yangzijiang Offshore Engineering Co Ltd, in which it has an indirect 18.6% stake, has won contract to build drilling platforms potentially worth USD1.7 billion.
In a statement, Amedeo said it had noted media reports and was confirming that Jiangsu Yangzijiang has a conditional deal to build two semi-submersible drilling platforms for Primepoint Drilling PTE Ltd, including an option for two more platforms.
It said delivery of this type of drilling platform takes about three years and it would make further announcements on the deal as appropriate.
Amedeo shares had more than doubled early Wednesday, to 1.6 pence a share, one of the biggest gains on the London market.
By Steve McGrath; [email protected]; @SteveMcGrath1
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