latest news releases from the newsroom
Smedvig: The Balder dispute
STAVANGER, Norway, Sept. 1, 2003 (PRIMEZONE) -- Smedvig (NYSE:SMVa) (NYSE:SMVb) has today been notified by Esso that the company will not appeal the Balder ruling by the Stavanger City Court. However, Esso has decided to file a complaint (Kjaeremal) with the Appeal Court (Gulating Lagmannsrett) concerning the parties' litigation costs. Smedvig has noted Essos's decision and maintains its decision not to appeal the ruling.
Northern Offshore Ltd
Northern Offshore: Report for the Second Quarter of 2003
OSLO, Norway, Sept. 1, 2003 (PRIMEZONE) -- Northern Offshore Ltd. (Other OTC:NOFSF) reports consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) of USD 6.6 million for the second quarter of 2003, down from USD 7.6 million in the first quarter. Revenues decreased from USD 15.3 million in the first quarter to USD 13.1 million in the second quarter. The decrease was mainly due to Energy Searcher being off-hire between March 27 and May 16. Revenues from Northern Producer were in line with the first quarter.
Golar LNG Second Quarter and Six Months Results
OSLO, Norway, Sept. 1, 2003 (PRIMEZONE) -- Golar LNG (Nasdaq:GLNG) reports net income of $8.8 million for the three months ended June 30, 2003 and operating income of $15.6 million as compared to $6.1 million and $16.0 million, respectively, for the three months ended June 30, 2002. Operating income includes a charge for depreciation and amortization of $7.0 million and $7.7 million, respectively, for the second quarters of 2003 and 2002. The reduction in the current quarter is due to the amortization of the deferred credit resulting from the lease finance transaction announced last quarter. The amount amortized during the three months ended June 30, 2003 was $0.8 million. Earnings per share for the quarter were $0.16 as compared to $0.11 for the same period in 2002.
AOL assigns Framfab
STOCKHOLM, Sweden, Sept. 01, 2003 (PRIMEZONE) -- Framfab will support AOL Germany in the development of new online- activities. Both companies have agreed on a substantial future co- operation.
Seco Tools strengthens position in Brazil
FAGERSTA, Sweden, Sept. 01, 2003 (PRIMEZONE) -- Seco Tools has signed an agreement to acquire the Brazilian tool manufacturer Genos which is one of the leading Brazilian producers of special tools for the automotive industry.
AudioDev sees continued demand in Asia - new orders worth 14 MSEK
MALMO, Sweden, Sept. 01, 2003 (PRIMEZONE) -- Since the end of the second quarter, AudioDev has seen a continued demand in Asia for DVD R/RW test equipment. The two largest DVD manufacturers in the Far East, Ritek Corporation and CMC Magnetics, have recently placed yet more orders with the total value of approx. 14 million SEK.
CeNeS Pharmaceuticals Plc
CeNeS announces additional data on M6G to be presented at leading pain conferences
CAMBRIDGE, United Kingdom, Sept. 01, 2003 (PRIMEZONE) -- CeNeS Pharmaceuticals plc (LSE:CEN) (Other OTC:CPHAF) today announced that additional data will be presented in the next two months on the potential of M6G (morphine-6-glucuronide) for the treatment of post-operative pain at three major European and North American pain conferences. M6G is currently in phase III of its clinical development for the treatment of post-operative pain.
Federal Security Protection Services Inc.
FSPS, Inc. and Clear Wire Networks, Inc. Merger Not Consummated
NEW ORLEANS, Aug. 31, 2003 (PRIMEZONE) -- Federal Security Protection Services, Inc. ("FSPS") (OTCBB:FSPS) announced that the merger agreement between FSPS and Clear Wire Networks will not occur. The agreement was signed on July 31, 2003, and the parties had thirty days in which to consummate the merger. A closing did not occur, so the merger agreement was terminated as of August 30, 2003. FSPS will continue to seek an appropriate merger candidate.