Aban Offshore receives order from leading company for US$80 million

Aban Offshore Ltd has announced that a Letter of Award has been received from a leading E&P Company in South Asia for deployment of the new built jack up Rig "Deep Driller 4", for a firm period of 12 months with two options to the operator for a period of 6 months each. The estimated revenues for the firm period of deployment would be approximately USD 80 Million, including mobilization and demobilization. The Rig is likely to commence operations by 4th quarter of year 2007.

The stock was trading at Rs.2940, down by Rs.21.55 or 0.73%. The stock hit an intraday high of Rs.3010 and low of Rs.2925.05. The total traded quantity was 11783 compared to 2 week average of 17809.

Source : Equity Bulls

Keywords