KS Energy Secures Revolving Credit Facility

KS Energy Services Limited has secured a three-year US$50 million revolving credit facility which is arranged by OCBC Bank, Maybank and UOB.

The Facility is a standby facility line to be drawn upon in the future. The Facility will primarily be used to enhance the Company's ability to undertake additional rig and offshore related projects during the next three years.

KS Energy has secured seven rig-related projects since November 2003 and has to-date successfully delivered four of the rigs.