Hunter Group ASA

HUNT: Dwellop’s board approves WOR contract – effective contract subject to certain closing conditions

The board of directors in Dwellop has today approved a contract for one work-over rig (WOR) with an undisclosed client in Asia.

The scope of work is similar with Dwellop’s latest WOR delivered, however the contracted WOR shall comply with “NORSOK” requirements and include a Hunter Crane. In addition, Dwellop will be responsible for delivery of the cement unit.

The contract is subject to certain closing conditions, primarily that the yard needs to conclude on a contract with its client. If a firm contract between the yard and its client is not signed, Dwellop’s contract will be cancelled.

Hunter Group is about to secure a project financing facility for the construction process. The construction period is estimated to 18 months.

This information is subject to disclosure requirements pursuant to section 5-12
of the Norwegian Securities Trading Act.

For further information, please contact:
Vegard Urnes, interim CEO, +47 90 58 54 32, vu@huntergroup.no
Ola Beinnes Fosse, CFO, +47 97 53 12 27, obf@huntergroup.no

www.huntergroup.no

Tags:

About Us

The Badger Explorer is a technology for exploring and mapping hydrocarbon resources. The tool is equipped with logging sensors and communication solutions. The tool drills into and buries itself in the underground. It operates at a lower risk, lower costs and less complexity than a drilling rig.

Subscribe