Company Name
:
PERDANA PETROLEUM BERHAD
Stock Name
:
PERDANA  
Date Announced
:
14/01/2013


Type
:
Announcement
Subject
:
OTHERS

Description
:
Perdana Petroleum Berhad ("PPB" or the "Company")
Termination of Bareboat Charter and Option Arrangements on the accommodation workbarge, "Petra Excelsior"

Announcement Details/Table Section :


Further to the Company's announcement on 2 May 2010, the Company wishes to announce that its wholly-owned subsidiary, Perdana Mercury Limited (PML) had on 10 January 2013 mutually agreed to terminate the bareboat charter arrangement with Mount Bintang LLC ("Mount Bintang") on the accommodation workbarge, "Petra Excelsior" ("the Vessel") as well as the option to purchase the Vessel at agreed times with Mount Bintang.

The termination of the bareboat charter arrangement with Mount Bintang is part of the fleet renewal programme.

The termination of the bareboat charter and option arrangements on the Vessel does not have any effect on the issued and paid-up share capital of PPB or the shareholdings of PPB's substantial shareholders and is not expected to have any material effect on the earnings, net assets as well as gearing of PPB Group for the financial year ending 31 December 2013.

None of the Directors, major shareholders or persons connected with them is interested, directly or indirectly, in the above termination of bareboat charter and option arrangements on the Vessel.

This announcement is dated 14 January 2013.


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