Seamec signs agreement with Superior Offshore International Inc

Seamec Ltd has announced that the Contract with M/s. Offshore Technology Solutions Ltd, Trinidad, West Indies pertaining to engagement of the Company's vessel SEAMEC III has ended on July 13, 2007.

Further the Company has informed that, the Company has entered into an agreement with M/s. Superior Offshore International Inc., 717 Texas Avenue, Houston, TX 77002, USA for engagement of the same vessel SEAMEC III for a period of six months, with a provision of extension in phases of 3 x 6 months. The contract value for the initial period would be USD 10 Mil approx.

The mobilisation is likely to commence in end July 07.

The stock closed on Friday at Rs.221.30, down by Rs.12.10 or 5.18%. The total traded quantity was 41281 compared to 2 week average of 43903. The stock hit an intraday high of Rs.236.95 and low of Rs.220.10.

Source : Equity Bulls

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