KS Energy: Announced that its KS Titan 2 has been chartered to GMT Energy Resources off Nigeria for 1yr, commencing Jan11. The total contract value is US$9.6m on a 365-day assumption, putting day rates at US$26,300….
Dnb NOR reiterate Buy call with $1.40 TP. Note that positive liftboat contract, and while the announced liftboat contract had already been flagged up, news that the dayrate was 17% above forecast was positive. However, note that impact on estimates is not significant, as contributions from the liftboat are equity accounted. raised 2011E EPS by 4%.
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