Ezion

Ezion: has secured a charter contract with value of ~US$80m over a 3 yr period, with additional 2 yr extendable option to provide a Jackup rig to support a South Asian based national oil company. The jack up rig, which will be deployed in the Arabian Sea in South Asia is expected to be working by 4Q13 after its refurbishment and upgrading. The project will be funded through internal resources as well as bank borrowings. Co yet to announce lifting of halt. The stock is last traded at 17.5x P/E.