PetroProd Crosses Fingers for FPSO Contract

PetroProd has made reference to the stock exchange announcement published on May 19, 2008 regarding the MOU signed with an undisclosed operator for the 5 year lease/operation of PetroProd 1 FPSO.

Due to extended negotiations between the two parties, a final agreement is expected to be signed no later than July 17, 2008. Further information will be given on or before July 17, 2008.



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