Ezra: According to newswires, Deo Petroleum indicated it has selected the Lewek Victory, a converted tanker, to become the FPSO for its UK North Sea Perth field. The 94k dwt unit is due for installation in 2014.
Ezra has not made any official announcement, and contract details are lacking at the moment, but any additions to its order book are likely to be viewed favorably.
Technically, the stock may have bottomed out, and is a potential break out candidate after breaching the key $1 resistance-turned-support. The key indicators are signaling that the stock is overbought, nevertheless near-mid term outlook has now turned positive and the odds favor a test of the next resistance at $1.20.
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