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ahhhhhh still going higherrrrrr........sooooo goooooood!!!

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KUALA LUMPUR: Daya Materials Bhd’s unit Daya Sheffield Sdn Bhd (DSFSB) has entered into a joint-venture (JV) agreement with Connect Energy Services Pte Ltd to undertake the provision of manpower services to Songa Offshore Malaysia Sdn Bhd.

DSFSB is a JV company of Daya OCI Sdn Bhd, which, in turn, is a subsidiary of Daya Materials.

“The proposed JV is to participate in an unincorporated JV to undertake the provision of manpower services to Songa Offshore Malaysia, which shall provide reasonable returns to DSFSB and Connect Energy. The proposed JV is expected to contribute positively to the future profitability and cash flow of the company as well as provide stability to our future income stream,” Daya Materials said in a filing with Bursa Malaysia yesterday.

Daya Materials said DSFSB would fund the proposed JV from its internally generated funds. “The estimated capital contribution by DSFSB for the project is RM325,000,” it added. – Bernama

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 Lime Norway to complete acquisition of interests in 4 production licenses in Norway
Kuala Lumpur, 3 September 2013: Hibiscus Petroleum Berhad (Hibiscus Petroleum) today announced that the Norwegian Ministry of Petroleum and Energy has approved the acquisition of 4 production licenses in the Norwegian Continental Shelf by Lime Petroleum Norway AS (Lime Norway) from North Energy ASA (North Energy).
Lime Norway is a wholly-owned subsidiary of Lime Petroleum Plc, an entity jointly controlled by Hibiscus Petroleum, Schroder & Co Banque S.A. and Rex Oil & Gas Ltd (Rex).
In April 2013, Hibiscus Petroleum announced the finalisation of up to 6 production licenses to be acquired from North Energy, after performing in-depth technical evaluations including Rex Virtual Drilling1 on the production licenses held by North Energy. Two production licenses, PL 526 and PL 562, which were originally included in the sale and purchase agreement executed in April 2013, have been returned to the authorities.
Lime Norway is currently seeking to finalise the acquisition of interests in a further 2 production licenses in the Norwegian Continental Shelf, subject to approval by the relevant authorities.
The total purchase consideration for these four concessions (namely PL 503, PL 503B, PL 616 and PL498) is approximately Norwegian Kroner (NOK) 28.2 million (USD 4.7 million). The purchase is targeted to be completed by 30 September 2013.
In announcing this development, Hibiscus Petroleum’s Managing Director and Lime Petroleum Plc’s Chairman, Dr Kenneth Pereira, said: “We are encouraged by the Norwegian Government approval, which provides affirmation of the capability of Lime Norway as a qualified oil and gas player in Norway. Importantly, this development gives us access to concessions in the mature and prolific Norwegian Continental Shelf.”

going up....6.40!!!

i fell some news coming.....