The company has entered into a letter of intent building a deep water Semi Submersible Rig at a first class yard. Finalization of the contract is expected within the next 30 days. Delivery is expected 32 months later.
The private placement was managed by Pareto Securities ASA and Carnegie ASA.
The shares are listed on the OTC market in Oslo and it is the intention, at a later date, to seek listing at the Oslo Stock Exchange.
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