With regard to Davie's oil platform business which is probably what American Eco is interetsed in. There "could be" $200-400 million backlog:
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As of the date of this report, the Company had confirmed contracts in the shipbuilding and repair segment for approximately $12 million, approximately $7 million of which is to be completed during fiscal 1998. This backlog does not include signed contracts for the significant upgrade of the production platform, Spirit of Columbus, or the new building of two deep-water drilling platforms, Amethyst II and Amethyst III. These contracts contemplate scope of work for Davie of approximately $200 million, but are subject to financing and other conditions which are beyond the control of the Company. Nonetheless, the Spirit of Columbus is in Quebec City and preparatory work is
underway. Although the dollar amount of the backlog is not necessarily
indicative of the future earnings of the Company related to the erformance of such work,the backlog represents business which is considered to be firm. In light of this statement, there can be no assurance that cancellations or scope adjustments will not occur.
and :
During fiscal 1997, the Company also successfully negotiated contracts for Davie for the upgrading of the oil production platform Spirit of Columbus and the new building of two deep water semi-submersible drilling platforms, Amethyst II and Amethyst III. Based on their current specifications, these contracts would involve approximately $430 million of procurement and construction business for Davie and DBI to be completed over approximately two years. Furthermore, the Company recently learned that the proposed operator of Amethyst
II and Amethyst III is considering upgrading the specifications for these platforms to permit them to operate in even deeper water. These contracts are subject to a number of contingencies and there can be no assurance that the contracts will proceed as currently planned.
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Are those oilplatforms related to the Sable or Terra Nova projects ?
Chien-Wei |
