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PMHH (oil &rigs) 2mth High on 3x Vol!
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[QUOTE]Originally posted by The Owl: [QB] Here is the UK Keppel announcement (just so you don't think I have the wrong Patriot company etc) Global Marine Energy PLC 30 January 2006 Global Marine Energy Plc $12.4 Million Mechanical Handling Equipment Package Order from Keppel FELS Global Marine Energy Plc, ('GME'), the oilfield services business, announces that its US-based subsidiary, Patriot Mechanical Handling Inc, ('PMH') has received an order valued at US$12.4 million USD from Keppel FELS in Singapore. The order is for 2 rig sets, comprising a complete mechanical handling package, for new build semi-submersibles currently on order to Keppel FELS from ENSCO International, Inc. The order calls for Patriot to deliver a Riser Gantry crane, marine deck cranes, BOP Handling, and tree handling systems, and to provide training, spare parts and commissioning services. Delivery is scheduled for Q2 2007 for the first rig set, and H2 2008 for the second. Paul Findlay, President and CEO of PMH, stated: 'This order is extremely significant in that we are to provide a complete package for all handling operations on and around the rigs. This order exemplifies and reinforces our strategy of pushing the complete packaging of our equipment for mechanical handling solutions to the offshore drilling industry. We are now aligned with the offerings of other companies in our industry. Combined with our streamlined operational structure, this product offering gives us the ability to be a strong competitor.' Philip Wood, Executive Chairman, Global Marine Energy added: 'We are very pleased to have the opportunity to work with Keppel FELS again, and to have put together a package to meet their total mechanical handling equipment needs. This is very important for GME and bodes well for the future, and although it will not impact on the current financial year it opens up new market opportunities which we are confident that we can exploit.' 30th January 2006 ENQUIRIES: Global Marine Energy Plc Tel: 01274 531 862 Philip Wood, Chairman Noble & Company Limited Tel: 0131 225 9677 Adam Westcott Bankside Consultants Tel: 0207 367 8888 Michael Padley / Susan Scott Editors' Note About GME Headquartered in Shipley, Yorkshire, Global Marine Energy Plc ('GME') is an oilfield services business with a strong emphasis on supplying equipment for offshore drilling and exploration. The Company has two wholly-owned subsidiaries: the Houston-based Patriot Mechanical Handling, Inc. ('PMH'), providing comprehensive engineering solutions for mechanical handling to the offshore oil and gas industry; and the Newcastle-based NIM, which provides handling and access equipment to the engineering, oil and gas and marine industries. About Keppel FELS Keppel FELS is a wholly-owned subsidiary of Keppel Corporation, a leader in offshore rigs, ship repair and conversion and specialised shipbuilding. Keppel O &M's near market, near customer strategy is bolstered by a global network of 17 yards in the Asia Pacific, Gulf of Mexico, Brazil, Caspian Sea, Middle East and North Sea regions. Integrating the experience and expertise of its yards worldwide, the group aims to be the provider of choice and partner in solutions for the offshore and marine industry. This information is provided by RNS The company news service from the London Stock Exchange [/QB][/QUOTE]
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