Standard Drilling (SDSD)

TekBot · mars 22, 2021, 7:26am

S.D Standard Drilling Plc (the “Company”) purchase 1% of Noble Corporation (“Noble”)

S.D Standard Drilling Plc has purchased 500,000 shares, corresponding to 1% ownership, in Noble at USD 18.5 per share.

Noble completed its restructuring- and Chapter 11 process on 5 February 2021. Having disposed five cold stacked rigs in the fourth quarter, Noble enters 2021 with 19 offshore drilling units, consisting of 7 drill ships and semisubmersibles and 12 jackups. Noble are focusing largely on ultra- deepwater and high-specification jackup drilling opportunities. After the restructuring Noble has net debt of USD 300 million and liquidity of USD 600 million. Noble had a contract backlog of USD 1.6 billion at the end of 2020.
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After the investment in Noble has been completed, the Company will in addition own:

33.3% of the 2020 built VLCC Gustavia S

100% of four (4) large sized PSVs

28% ownership of six (6) medium sized PSVs

Following the purchase of shares in Noble, S.D Standard Drilling Plc will have a bank balance of approximately USD 18 million, including cash in the Company and within its 100% owned subsidiaries.

The information included in this announcement is such that the Company is required to disclose in accordance with the EU Market Abuse Regulation (MAR), and is publicly disclosed in accordance with MAR article 17 and section 5-12 of the Norwegian Securities Trading Act. The announcement is made by Martin Nes.

For further information please contact:

General Manager Evangelia Panagide +357 99 77 11 16
Or
Chairman of the Board Martin Nes +47 92 01 48 14

Kilde

Metallian · mars 22, 2021, 10:15am

Blir intetessant å se hva som skjer nå fremover…

TekBot · mars 22, 2021, 4:16pm

SDSD: Mandatory notification of trade

Herman1 · mars 23, 2021, 3:49pm

Er det noen på dette forumet som følger selakapet? FA sitt forum er jo blitt en plass der de ulærde strides i denne aksjen - hva vil fornuftig prising av selskapet være etter tilbakekjøpet de har gjort av aksjer?

Metallian · mars 23, 2021, 7:03pm

Tør ikke prøve meg på en prisning men mtp tilbakekjøpene, kraftig forbedret psv marked og den spennende posten i et restrukturert Noble mwd stor ordrereserve har jeg problemer med å forstå at den ikke er på 1,4-1,5 ihvertfall…

TekBot · april 16, 2021, 5:31am

SDSD: Annual Report 2020

TekBot · mai 4, 2021, 2:23pm

SDSD: Mandatory notification of trade

TekBot · mai 20, 2021, 5:15am

SDSD: FIRST QUARTER 2021 FINANCIAL RESULTS

NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS SUBSIDIARIES.

(Limassol, 20 May 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) had a negative adjusted EBITDA of USD 0.1 million in the first quarter of 2021 from the underlying operations of Platform Supply Vessels (PSVs) (Q1 20: USD (0.7) million), with an utilization of 96% on fully owned large-sized PSVs (Q1 20: 61%).
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Standard Drilling reported an operating loss of USD 2 million in the first quarter of 2021 (Q1 20: USD (10.6) million), following unrealized loss on revaluation of financial assets of USD 2.1 million. Standard Drilling is an investment entity and shall not consolidate its subsidiaries. Therefore, the company measures its investments in PSVs and VLCC based on fair value estimates from reputable independent valuers. Revenues and EBITDA from chartering out the vessels are not consolidated into, nor reflected in the financial statements.

From operating the PSVs the group had an underlying negative adjusted EBITDA* in the first quarter 2021 of USD 0.1 million (USD (0.5) million). The utilization of the large-sized PSV’s was 96 % in the quarter (Q1 20: 61%).

“With the covid situation and winter season affecting the activity in Q1 we are fairly satisfied with an operating result from the PSV fleet more or less at a breakeven level. Having witnessed increased activity in the North Sea during this spring with a 100% utilisation for our large vessels in April, we remain optimistic for a better summer season than in 2020", says Martin Nes, Chairman of the Board of S.D. Standard Drilling Plc.

In March Standard Drilling purchased 500.000 shares in Noble Corporation (“Noble”) at a total purchase price of USD 9.25 million, classified as current assets and liabilities end of first quarter.

“After having been founded as a rig company back in 2010, Standard Drilling has for the last few years focused on the PSV market and also the VLCC tanker market. Our recent purchase of shares in Noble Corporation shows that the Company may also pursue other attractive investment opportunities within the shipping and offshore segments, including renewables. With a good cash position and zero debt we are in a good position in an interesting market”, concludes Nes

The total cash balance was USD 32.7 million at the end of first quarter, including pro-rata ownership of the subsidiaries and investments, down from USD 32.9 million at the end of fourth quarter 2020.

The VLCC Gustavia S, of which Standard Drilling owns 33.3%, completed its fourth voyage in February 2021 and commenced her fifth voyage mid of April.

In addition to the part-ownership of the VLCC vessel Gustavia S, Standard Drilling currently owns 100% of four large-size modern PSVs. Further, the company has invested in 6 mid-size PSVs through Northern Supply AS, bringing the total fleet of partly and fully owned PSVs to 10. The company has zero debt, cost effective operations and low overhead cost.

*Excluding non-recurring cost and dry dock, special survey, maintenance and repair

ENDS
For additional information, please contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of a VLCC, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (‘PSVs’) and an indirect ownership interest in six mid-size PSVs t.

Kilde

TekBot · mai 21, 2021, 6:01am

SDSD-ANNUAL GENERAL MEETING

Cyprus - 21 May 2021

Notice is hereby given that the Annual General Meeting (“AGM”)of S.D. STANDARD DRILLING PLC will be held at 276 Arch. Makariou III Ave., Lara Court, 3105, Limassol, Cyprus on 14 June 2021 at 11:30 a.m. (EET)
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The Notice, Proxy Statement, Nomination Committee proposal, Remuneration Policy and the Report of the Board of Directors for the AGM are enclosed to this release and will also we available at the Company’s website.

The Annual Report for the year 2020 is also available on the Company’s website at www.standard-drilling.com.

For more information contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
or
CFO, Christos Neokleous at +357 99 53 11 93

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of a VLCC, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (‘PSVs’), an indirect ownership interest in six mid-size PSVs and 0.75% ownership in Noble Corporation.

Kilde

TekBot · juni 3, 2021, 1:01pm

SDSD: ESPEN LANDMARK FJERMESTAD APPOINTED HEAD OF INVESTMENTS

(Limassol, 3 June 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) today announces the appointment of Espen Landmark Fjermestad as Head of investments. Fjermestad comes from the position as Head of research at Fearnley Securities and will strengthen the group’s capabilities within shipping, offshore and renewables.

“We´re pleased to announce the appointment of Espen Landmark Fjermestad as Head of investments. Espen brings a strong track-record within the shipping, offshore and renewable industries and will add valuable capacity and competence to our team. By appointing Espen as Head of investments we will aim to be more active in looking at investment opportunities across these industries “ says Martin Nes, Chairman of the Board of Standard Drilling.
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Espen Landmark Fjermestad is appointed Head of investments at Standard Drilling and comes from the position as Head of research at Fearnley Securities. Fjermestrand has previously held positions at Storebrand Kapitalforvaltning and holds a Master of science from Copenhagen Business School. He will take up his new position latest by 1. September 2021.

Fjermestad is granted 10 million options with a strike of NOK 1.25 after 18 months, in addition to 10 million options with a strike of NOK 1.40 after 30 months. The grant of the options is subject to General Assembly approval.

ENDS

For additional information, please contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of a VLCC, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (PSVs) and an indirect ownership interest in six mid-size PSVs. S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.

Kilde

TekBot · juni 11, 2021, 6:50am

SDSD: Entered into MOA for sale of Standard Olympus

(Limassol, 11 June 2021) S.D. Standard Drilling Plc. (Standard Drilling, OSE: SDSD) has entered into a Memorandum of Agreement (MOA) to sell Standard Olympus for USD 7.5 million.

Through its wholly owned subsidiary Standard Olympus AS, S.D. Standard Drilling Plc, has agreed to sell Standard Olympus for gross USD 7.5 million. The sale of Standard Olympus will result in a gain for Standard Drilling of gross USD 1.3 million. The Vessel is a large Platform Supply Vessel (PSV), built at Havyard Ship Technology AS, Norway, in 2014, with 800m2 deck space.
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“The transaction is a result of Standard Drilling’s renewed focus on more diversified investments within the shipping, offshore and renewables segments. It gives Standard Drilling increased flexibility to pursue other investments opportunities” says Martin Nes, Chairman of Standard Drilling.

Following the sale, Standard Drilling will control, directly and indirectly, a fleet of 9 PSVs; three large 1,000 m2 PSVs 100% owned and six medium-sized PSVs with approximately 28% ownership interest. In addition, the company has 33.3% ownership of the VLCC vessel Gustavia S and a share portfolio. The sale will further strengthen the company’s cash balance.

The transaction is subject to certain corporate resolutions and buyer’s inspection and acceptance of the vessel. The transaction is expected to be completed within August 2021.

For further information please contact:

General Manager, Evangelia Panagide at +357 99 77 11 16, or;
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com

S.D. Standard Drilling is an investment company within shipping, offshore and renewables which was founded in 2010. In addition to a share portfolio and 33.3% ownership in the VLCC “Gustavia S”, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (PSVs) and an indirect ownership interest in six mid-size PSVs. S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Espen Lundaas on 11 June 2021 at 08:50 CET

Kilde

TekBot · juni 14, 2021, 10:53am

SDSD- Minutes from Annual General Meeting in S.D. Standard Drilling Plc.

TekBot · juni 25, 2021, 8:49am

SDSD: PARTNERS WITH ESPEN WESTEREN

(Limassol, 25 June 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) today announces the
agreement with investment professional Espen Westeren to strengthen the company’s investment and analysis capabilities.

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“We´re pleased to announce the partnership with Espen Westeren. Espen has extensive experience from our industries, brings a strong investment track-record and will add valuable capacity within investments and analysis to our team, “ says Martin Nes, Chairman of Standard Drilling.

Standard Drilling has entered into an agreement to partner with Espen Westeren, currently managing his privately held Titan Ventures. Westeren has previously served as founder and chief investment officer at Titan Capital Management, and worked five years at Seatankers/Frontline Corporate Services. He has also experience as a portfolio manager and analyst at HBK Investments and Martin Currie Investments respectively, and holds a MPhil Economics from the University of Cambridge.

Espen Westeren will start immediately and work closely with the new Head of Investment, Espen Fjermestad, which will join Standard Drilling in August 2021.

ENDS

For additional information, please contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of a VLCC, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (PSVs), indirect ownership interest in six mid-size PSVs and a share portfolio. S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.

Kilde

TekBot · juni 27, 2021, 9:32am

SDSD: ACQUIRES 750.000 SHARES IN WEATHERFORD

(Limassol, 27 June 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) today announces a 1.1% ownership position in Weatherford International plc (Weatherford), following the purchase of approximately 750,000 shares at an average price of USD 14.1 per share in the second quarter of 2021.

“Weatherford completed its restructuring- and Chapter 11 process in late 2019, removing more than USD 6 billion of debt in the process. Since then, a highly capable management team has been established, and the company relisted on Nasdaq in June 2021. Weatherford today has an enterprise value of USD 2.7 billion, equaling 25% of 2016-2018 levels despite similar earnings capacity, strong liquidity and credit metrics similar to its larger oil service peers,” says Martin Nes, Chairman of Standard Drilling.
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Weatherford is a leading wellbore and production solutions company, with operations in more than 75 countries, 17,000 employees and approximately 380 operating locations, including manufacturing, research and development, service, and training facilities.

During the second quarter of 2021, Standard Drilling has acquired 750,000 Weatherford shares at an average price of NOK USD 14.1, representing approximately 1.1% of the company.

“Weatherford has divested nearly USD 1 billion in cyclical- and low-margin businesses, while remaining a global leader within selected business lines such as Managed Pressure Drilling, Turbular Running Services and artificial lift. Combined with strong cost control during the downcycle, we believe Weatherford has a clear pathway towards USD 5 billion in revenues with strong profitability, “ Nes concludes.

Following the purchase of Weatherford shares, Standard Drilling, including fully owned subsidiaries, holds approximately USD 7.5 million in cash (not included cash from the sale of Standard Olympus for gross USD 7.5million, which is expected to be completed within August 2021).

A presentation prepared by Standard Drilling, with further information on Weatherford and Standard Drilling’s assessment of Weatherford is attached hereto. The presentation will also be made available at Standard Drilling’s webpages.

ENDS

For additional information, please contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to a 33.3% ownership of a VLCC, the company currently has 100% ownership interest in four large-size Platform Supply Vessels (PSVs), indirect ownership interest in six mid-size PSVs and 0.75% of Noble Corporation. S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.

Kilde

Metallian · juni 27, 2021, 10:43am

Sdsds kommer til å stige jevnt og trutt imho fremover, kjøpte meg inn under kronen og ser mye oppside enda.

Andyboi · juni 28, 2021, 10:05am

TekBot · august 5, 2021, 12:14pm

S.D Standard Drilling Plc. (the “Company”) has today completed the sale of Standard Olympus

Limassol, 5 August 2021

Reference is made to the stock exchange release as of 11 June 2021, where the Company published that it had entered into a Memorandum of Agreement to sell one (1) large Norwegian built Platform Supply Vessel, Standard Olympus for USD 7.5 million.
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The transaction was completed today on 5 August 2021. S.D Standard Drilling Plc. has, through its subsidiary, Standard Olympus AS, received the transaction amount in full.

S.D. Standard Drilling is an investment company within shipping, offshore and renewables which was founded in 2010. In addition to a share portfolio and 33.3% ownership in the VLCC “Gustavia S”, the company currently has 100% ownership interest in three large-size Platform Supply Vessels (PSVs) and an indirect ownership interest in six mid-size PSVs. S.D. Standard Drilling is headquartered in Cyprus and is listed on Oslo Stock Exchange with the ticker code SDSD.

For further information please contact:

General Manager, Evangelia Panagide at +357 99 77 11 16,
or;
Chairman of the Board, Martin Nes at +47 92 01 48 14

Kilde

TekBot · august 18, 2021, 11:52am

SDSD - SHARE CAPITAL REDUCTION REGISTERED

Cyprus, 18 August 2021

Reference is made to the stock exchange notice from S.D. Standard Drilling Plc (the “Company”) on 14 June 2021, where the Ordinary General Meeting made the resolution to reduce the share capital through cancellation of the 8,225,380 shares the Company bought back through share buy back program that was published on 8 December 2020.
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The share capital reduction process has now been completed by the registration of the Court Order and the minutes for the reduction of capital with the Registrar of Companies. The new share capital of the Company is USD 15,734,487 divided by 524,482,901 ordinary shares, each with a par value of USD 0.03.

For further information please contact:

General Manager Evangelia Panagide at +357 99 77 11 16, or
Chairman of the Board Martin Nes at +47 92 01 48 14

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · august 26, 2021, 5:01am

SDSD: SECOND QUARTER 2021 FINANCIAL RESULTS

NOTE: THE COMPANY IS AN INVESTMENT ENTITY AND SHALL NOT CONSOLIDATE ITS SUBSIDIARIES.

(Limassol, 26 August 2021) S.D. Standard Drilling Plc (Standard Drilling, OSE:SDSD) reported a profit after tax of USD 8.3 million in the second quarter of 2021, up from negative USD 3.6 million in the same quarter last year, of which USD 6.3 million are related to the investment portfolio. The company has strengthened the group’s investment team and will increase the investment activities within shipping, offshore, renewables and commodities.
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“Standard Drilling had a solid development in the investment portfolio in the second quarter, where we subsequently have realized our holdings in Noble with a net profit of USD 2 million. In addition, we observed 100% utilization of our four large size Platform Supply Vessels, and strengthened the investment team with Espen Landmark and Espen Westeren,” says Martin Nes, Chairman of the Board of S.D. Standard Drilling Plc.

Standard Drilling reported an operating profit of USD 8.3 million in the second quarter of 2021 (Q2 20: USD (3.6) million), following unrealized gain on revaluation of financial assets of USD 8.4 million, of which USD 6.3 million are related to the investment portfolio and USD 2.2 million to the Platform Supply Vessels (PSVs) and Very Large Crude Carrier (VLCC) investments.

Standard Drilling is an investment entity and shall not consolidate its subsidiaries. Consequently, the company measures its investments in PSVs and VLCC based on fair value estimates from reputable independent valuers. Revenues and EBITDA from chartering out the vessels are not consolidated into, nor reflected in the financial statements. The investment portfolio are valued at market value.

From operating the PSVs the group had an underlying positive adjusted EBITDA* in the second quarter 2021 of USD 0.9 million (USD (1.5) million). The utilization of the large-sized PSV’s was 100 % in the quarter (Q2 20: 61%).

During the quarter, Standard Drilling announced the appointment of Espen Landmark as head of investment and the partnership with Espen Westeren.

“We´re pleased to announce the expansion of our team with Espen Landmark and Espen Westeren. Both bring extensive experience from our industries, holds a strong investment track-record and will add valuable capacity within investments and analysis to our team, “Nes adds.

At the end of the second quarter, Standard Drilling held shares in Noble Corporation and Weatherford International Plc for USD 26 million, classified as financial assets held for trading.

“The total cash balance, in addition to the investment portfolio, was USD 10.9 million at the end of second quarter, providing a solid platform for further investments within shipping, offshore, renewables and commodities,” Nes concludes.

*Excluding non-recurring cost and dry dock, special survey, maintenance and repair

ENDS

For additional information, please contact:
General Manager, Evangelia Panagide at +357 99 77 11 16
Chairman of the Board, Martin Nes at +47 92 01 48 14

Standard Drilling|www.standard-drilling.com
S.D. Standard Drilling was founded in 2010. In addition to an investment portfolio within shipping, offshore and renewables, the company holds a 33.3% ownership of a VLCC, 100% ownership interest in three large-size Platform Supply Vessels ('PSVs) and an indirect ownership interest in six mid-size PSVs.

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This stock exchange announcement was published by Espen Lundaas, on 26 August 2021 at 07:00 CET.

Kilde

Metallian · august 26, 2021, 5:21am

Gode tall😃