Seadrill takeover candidate Eastern Drilling posts Q1 opg loss of 518 mln usd
April 28, 2007 Filed Under: Mining Services 
Eastern Drilling is currently subject to a 135 nkr per share mandatory offer from peer Seadrill, which currently owns 63.96 pct of the firm, following a drawn-out bidding process.
Eastern Drilling has two rigs on order with Samsung Heavy Industries in South Korea, with delivery expected in the first and third quarters of 2008 respectively.
The firm has invested 622 mln usd in its new drilling rigs, and at the end of the first quarter had assets of 15.7 mln usd, mainly consisting of bank deposits.
Information from: www.sharewatch.com
