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MeldingsID: 288374
Dato/tid 23.08.2011 15:28
Utsteder Asia Offshore Drilling Limited
UtstederID AOD
Instrument
Marked OAX
Kategori FINANSIELL RAPPORTERING
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Vedlegg
Tittel AOD - Asia Offshore Drilling Ltd reports Third Quarter 2011 Results
Tekst
Highlights
- Asia Offshore Drilling Limited (''Asia Offshore 
Drilling'') generated third quarter 2011 EBITDA*) of 
minus US$ 0.3 million.
- Asia Offshore Drilling reported third quarter 2011 
net losses of US$ 0.3 million and losses per share of 
US$ 0.015.

Subsequent Events
- On 1 July, Asia Offshore Drilling completed an US$ 
80 million private placement and issued 20 million 
new shares at a subscription price of US$ 4.00 per 
share.
- On 7 July, Asia Offshore Drilling entered into a 
contract for its third newbuild jack-up drilling rig 
at an estimated construction price of US$ 184 million.
- Asia Offshore Drilling was listed on the Oslo Axess 
in Norway on 15 July 2011.
- Construction supervision, project, commercial and 
technical management of Asia Offshore Drilling is 
being performed by Seadrill with effect from 15 July 
2011.
- Due to the ownership changes in Asia Offshore 
Drilling, two directors resigned on 15 August 2011 
and have been succeeded by Mrs. Joey Horn and Mr. 
Erling Lind.
- On 23 August 2011, Mr. Esa Ikaheimonen was 
appointed CEO for Asia Offshore Drilling.

*) EBITDA is defined as earnings before interest, 
depreciation and amortization equal to operating 
profit plus depreciation
and amortization.

Condensed Consolidated Income Statements
Third quarter results
Operating losses for the quarter were US$ 0.3 million 
compared to losses of US$ 0.1 million in the 
preceding quarter.

Net losses for the quarter were US$ 0.3 million 
compared to losses of US$ 0.1 million in the 
preceding quarter. 

Net losses per share were US$ 0.015 for the quarter, 
compared to losses per share of US$ 0.005 for the 
preceding quarter.


The Board of Directors
Asia Offshore Drilling Limited
Hamilton, Bermuda
23 August 2011

Attached please find a full quarterly report

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