Amedeo Resources PLC Completion of Physical Build of Explorer 1 (6986J)

TIDMAMED

RNS Number : 6986J

Amedeo Resources PLC

21 December 2015

21 December 2015

Amedeo Resources Plc ("Amedeo")

Completion of Physical Build of Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig ("Explorer 1")

Amedeo is pleased to announce that the physical build of Jiangsu Yangzijiang Offshore Engineering Co. Ltd's ("YZJ Offshore") first rig order, the Le Tourneau Super 116E Class design self-elevating mobile offshore jack up drilling rig, Explorer 1, has been completed.

Testing, including to American Bureau of Shipping classifications, and commissioning, which constitute a key part of the delivery package, have already commenced and are expected to be completed during 2016.

Glen Lau, Chief Executive Officer, commented:

"We are pleased that physical build of YZJ Offshore's first rig is complete. Following successful testing and commissioning, the rig will be delivered to the client. The physical completion of the first build is a key milestone from several perspectives, including in establishing the good reputation of a yard."

ENDS

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

Enquiries:

 
Glen Lau                       Zafar Karim 
 Chief Executive Officer        Executive Director 
 Amedeo Resources Plc           Amedeo Resources Plc 
 Tel office: [phone]   Tel office: [phone] 
Paul Shackleton                Elliott Hance 
 Nominated Adviser & Broker     Joint Broker 
 WH Ireland                     Beaufort Securities Limited 
 Tel office: [phone]   Tel office: [phone] 
 

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

MSCPKDDQFBDKBBB

(END) Dow Jones Newswires

December 21, 2015 03:46 ET (08:46 GMT)