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Ardan Operations Update & Corporate Presentation

8th Jul 2014 07:00

RNS Number : 6673L
Africa Oilfield Logistics Limited
08 July 2014
 



Africa Oilfield Logistics Limited / Ticker: AOL / Index: AIM / Sector: Support Services

8 July 2014

Africa Oilfield Logistics Limited ('Africa Oilfield' or 'the Company')

Ardan Operations Update & Corporate Presentation

 

Africa Oilfield Logistics Ltd, the AIM listed African focussed support services and logistics company, is pleased to provide a positive operations update from the Company's primary investment, Ardan Risk & Support Services ('Ardan').

 

· Expanded civil engineering team with additional 80-man well pad construction team - operational capacity doubled to facilitate rapid roll out of well pad programme

· Acquisition of two new mobile containerised camps to be utilised by Ardan team - significantly improving efficiencies and operational output and reducing well pad construction time

· Well pad construction teams and containerised units currently being mobilised to Turkana province of Kenya - a hub for oil exploration

· Units can be leased to clients on a daily rate when not utilised by Ardan's team - as the only contractor with fully mobilised containerised camps Ardan is confident of the units' high demand in Turkana and beyond

· Updated corporate presentation detailing recent corporate and operational developments will be available shortly on website at www.africaoilfieldlogistics.com 

 

Carl Esprey, Chief Executive Officer of Africa Oilfield, said: "Ardan's Technical Division, which encompasses all civil engineering activities, continues to go from strength to strength. With this in mind we have invested further into this business, bolstering our manpower with a second 80-man drill pad construction team and purchasing two new containerised camps. These developments have doubled our operational capacity and greatly increased our efficiency in order to facilitate the rapid roll out of well pad construction.

 

"As highlighted by the recently reported 65% increase in annualised run rate revenue for the first four months of the year, Ardan continues to perform strongly, progressing our objective of becoming the leading provider of quality turn-key support services and logistics solutions to international oil, gas and mining companies operating in Africa."

 

** ENDS **

 

For further information please visit www.africaoilfieldlogistics.com or contact:

Carl Esprey

Africa Oilfield Logistics Limited

Tel: +44 (0) 20 7408 9200

David Foreman

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7894 7000

Rick Thompson

Cantor Fitzgerald Europe

Tel: +44 (0) 20 7894 7000

Richard Greenfield

GMP Securities

Tel: +44 (0) 20 7647 2836

Emily Morris

GMP Securities

Tel: +44 (0) 20 7647 2835

Susie Geliher

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

Charlotte Heap

St Brides Media & Finance Ltd

Tel: +44 (0) 20 7236 1177

 

 

 

 

 

 

 

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