Thule Drilling Enters MOU for Sale of Thule Energy, Force Jackups

Thule Energy/Force
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Thule Drilling has entered into an MOU with Middle East interests for the sale of Thule Energy and Thule Force on an "as is, where is" basis, as well as its BVI subsidiary, at a total price of US $300 million.

The settlement is payable on a monthly basis over a 14 month period after signing of the contract. Thule has received a non-refundable deposit from the buyer, and the parties are in the process of concluding the negotiations.

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