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July 14, 2016

Deals this week: Siem Offshore, Sirius Petroleum, Hercules International Drilling

Siem Offshore Inc has sold its Siem Carrier platform supply vessel (PSV) to an undisclosed company.

Siem Offshore Inc has sold its Siem Carrier platform supply vessel (PSV) to an undisclosed company.

Built in 1996, Siem Carrier has a deadweight tonnage of 4,688t and can perform supply and cargo transport missions for the oil and gas industry.

Sirius Petroleum Plc plans to raise $650,000 through a private placement of 200 million shares. The shares will be issued at a price of $0.003 each and be subscribed to by existing shareholders.

"The shares will be issued at a price of $0.003 each."

Funds raised from the placement are intended to pay the company's renewal fee of Ororo field licence and accelerate the development of the Ororo field.

Hercules International Drilling Ltd., a subsidiary of Hercules Offshore, Inc., has agreed to dispose its Hercules 267 jack-up drilling rig to an undisclosed company. The sale consideration for the deal will be $3.16m.

The Hercules 267 is designed to operate at a water depth of 250ft and perform drilling operations to a depth of 20,000ft.

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