Sep. 8 at 9:18 AM
$GEOUF
Current markets cap about USD 10m, below contract on one of their 4 vessels will give an ebitda of usd alone next 12 month. Ebitda for the Co next 12 months should be more than current market cap
New long-term contract and commercial update
Press Release | 08/11/2022
lesund, 11 August 2022:
Golden Energy Offshore Services AS (GEOS / the Company) is very pleased to inform that it has entered into a new long-term time charter contract for the vessel Energy Empress or Energy Duchess with a first-class reputable Oil & Gas operator for an offshore drilling campaign in the Caribbean.
The contract is based on Bimco Supplytime 2017 and has a firm period of 12 months with two options for six months each.
The day rate in the firm period is on acceptable market level. Gross value of the contract is approx. MUSD 7.9 with an EBITDA margin of 64% for the Company the first firm year and approx. MUSD 8.2 for second year if the options are utilized.