Reference is made to the notice of April 7, 2009, where Premier Oil with partners and BW Offshore have signed a Letter of Understanding (LoU) for the charter of the FPSO Nexus 1 offshore Vietnam. The LoU is conditional upon a substantial financial
Nexus Floating Production has in a separate notice today reported that their Board of Directors is working on a restructuring plan. The plan is subject to approval by the various stakeholders. BW Offshore will, subject to financing and approval by the Board of Directors of BW Offshore, underwrite a potential private placement in Nexus Floating Production of US $104 million.
BW Offshore has the intention to enter into an agreement with Nexus Floating Production related to the field specific upgrade and
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