SINGAPORE (April 4): KS Energy announced Tuesday that its subsidiary, KS Drilling Operating Company, has secured a US$11.1 million ($15.5 million) contract for the "KS Java Star 2" jack-up drilling rig.
The work in Vietnam is expected to commence this month.
KS Energy says the new contract is not expected to have any material effect on its earnings per share and net tangible assets per share for the financial year ending Dec 31, 2017.
KS Drilling Operating Company is a wholly-owned subsidiary of KS Drilling, which in turn is a 80.09%-owned subsidiary of KS Energy.
Shares of KS Energy closed flat at 8 cents on Tuesday.
The work in Vietnam is expected to commence this month.
KS Drilling Operating Company is a wholly-owned subsidiary of KS Drilling, which in turn is a 80.09%-owned subsidiary of KS Energy.
Shares of KS Energy closed flat at 8 cents on Tuesday.
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