Xcite Enters LOI Extension for Rowan Jackup



Xcite has entered into an extension to the binding letter of intent ("LOI") with British American Offshore Limited ("BAOL"), part of Rowan Companies, Inc. for the N-Class Rowan Norway jackup rig.

The LOI has been extended by mutual consent to February 11, 2011 with no amendment to the existing termination fee payable by XER in the event it does not enter into a definitive agreement by this date.

 


RELATED COMPANIES
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.