Key Developments: KS Energy Ltd (KSTL.SI)

KSTL.SI on Stock Exchange of Singapore

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29 Jan 2015
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Latest Key Developments (Source: Significant Developments)

KS Energy Ltd announces dissolution of joint venture company
Tuesday, 10 Jun 2014 05:05am EDT 

KS Energy Ltd:Refers to company’s announcement dated on May 8 and wishes to announces that its 70 pct- owned dormant joint venture company, KT Lion Oilfield Services Limited (KT Lion).Says KT Lion Oilfield Services Limited (KT Lion) was incorporated in the British Virgin Islands and placed under members voluntary liquidation, had been duly dissolved.  Full Article

KS Energy Ltd announces striking off of indirect wholly-owned subsidiary
Thursday, 29 May 2014 05:24am EDT 

KS Energy Ltd:Says the company’s indirect wholly-owned subsidiary, KSE (Philippines) Pte. Ltd. (KSE Philippines), incorporated in Singapore by the company’s wholly-owned subsidiary, KS Resources Pte. Ltd., has been struck off from the register of companies.  Full Article

KS Energy Ltd secures drilling contracts valued at over $60 mln
Thursday, 22 May 2014 05:00am EDT 

KS Energy Ltd:Announces extensions of contract awarded to subsidiaries of KS Drilling Pte Ltd, an 80 pct-owned subsidiary of the company.Says Atlantic Marine Services Egypt S.A.E. has received confirmation from Belayim Petroleum Co of the extension of their contract for the charter of KS Medstar-1, the Group’s 300-feet cantilever jack-up drilling rig, for another one year firm plus one year optional, with effect from May 15.The expected value of the firm one year extension of contract is about $40.9 mln.Atlantic Onshore Services BV has signed a contract for the provision of drilling services and the charter of KS Discoverer 1, the Group’s 1,500HP onshore drilling rig, with OP Hawler Kurdistan Limited (formally known as Norbest Limited), a subsidiary of ORYX Petroleum Corporation Limited of Canada.Work is expected to continue until the Q1 2015.The expected value of the extension of contract is about $11.9 mln.Atlantic Onshore Services BV has entered into a new contract for the provision of drilling services and the charter of KS Discoverer 3, the Group’s 1,500HP onshore drilling rig, with Ocean Pakistan Limited.Work is expected to continue until the Q4 2014.The expected value of the extension of contract is about $7.4 mln.  Full Article

KS Energy does not declare dividend
Wednesday, 14 May 2014 06:09am EDT 

KS Energy Ltd:Says no dividend has been declared/recommended for the period ended March 31.  Full Article

KS Energy Ltd announces liquidation of joint venture
Thursday, 8 May 2014 05:06am EDT 

KS Energy Ltd:KT Lion Oilfield Services Limited (KT Lion), a joint venture company, has been put into members’ voluntary liquidation.KT Lion, which incorporated in the British Virgin Islands, is 70 pct-owned by Company with remaining 30 pct interest owned by Tat Hong Holdings Ltd.KT Lion has been dormant since Jan. 2010 and both its shareholders do not intend to recommence its business activities.  Full Article

KS Energy Ltd announces dissolution of subsidiary
Wednesday, 23 Apr 2014 05:32am EDT 

KS Energy Ltd:KS Discoverer 2 (HK) Limited (KSD2HK), dormant wholly-owned subsidiary, which was incorporated in Hong Kong and placed under members’ voluntary liquidation, had been duly dissolved.  Full Article

KS Energy announces incorporation of two new subsidiaries
Friday, 4 Apr 2014 05:06am EDT 

KS Energy Ltd:Says KS Rig Invest Pte. Ltd. (KS Rig), a wholly-owned subsidiary of KS Drilling Pte. Ltd. (KSDR), which in turn is an 80 pct owned subsidiary of KS Energy incorporated two wholly-owned subsidiaries.KS Rig Invest Five Ltd and KS Rig Invest Six Ltd are two newly incorporated subsidiaries in British Virgin Islands.Principal activity of these two subsidiaries is Ownership and leasing of equipment and provision of services to the oil and gas industry.  Full Article

KS Energy Ltd announces increase in shareholding in an indirect subsidiary
Friday, 21 Mar 2014 06:04am EDT 

KS Energy Ltd:Says its subsidiary, KS Drilling Pte. Ltd has increased its equity stake in PT. Petro Papua Energi (PPE) from 60 pct to 90 pct by acquiring 900 ordinary shares from PT. Semesta Bara Energi.Total consideration paid by KSDR for the Sale Shares was $1.00.Acquisition of the sale shares was funded by internal resources.  Full Article

KS Energy Ltd does not declare dividend for FY 2013
Wednesday, 26 Feb 2014 06:17am EST 

KS Energy Ltd:No dividend has been declared or recommended for the period ended Dec. 31, 2013.  Full Article

KS Energy Ltd's subsidiary secures contract to provide drilling rig in vietnam
Monday, 17 Feb 2014 04:17am EST 

KS Energy Ltd:Says wholly-owned subsidiary of KS Drilling Pte. Ltd. has secured a contract for the provision of a new 300ft drilling rig in Vietnam for Vietsovpetro.Says contract is for a period of one year with an option to extend for an additional one year and is due to commence in the second quarter of the FY2014.Says total value of the contract, excluding the potential extension, is about $58 mln.  Full Article

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