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Dear Investors,
MB Petroleum Services LLC, together with its
parent company MB Holding Company LLC, will
report financial results for the full year
2011 and Q-1 2012 on Tuesday, 8th May 2012
at 8.00am (New York) 1:00 pm (London),
4:00pm (Oman).
A conference call for investors and analysts
will be held on Wednesday, 9th May 2012 at
8:00am (New York), 1:00pm (London), 4:00pm
(Oman).
For details please see the
attachment.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards,
MB Investors Relations Cell
Dear Investors,
We are pleased to release a brief “Trading
Update” for MB Petroleum Services Group
(MBPS) as attached.
A conference call for investors and analysts
will be held in the second week of May 2012
wherein we will be discussing Group’s
performance for full year 2011 and Q1 2012.
Date of the conference call will be informed
in advance to all the investors.
For details please see the
attachment.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards,
MB Investors Relations Cell
UES acquires 100% of Hyspec Engineering,
UK
United Engineering Services LLC (UES), a
subsidiary of MB Holding Co. LLC, has
acquired 100% shareholding of Hyspec
Engineering Holdings Ltd. UK (Hyspec or the
Company). The transaction was completed in
Glasgow on 22nd February 2012. Hyspec is one
of the UK’s leading providers of sub
contract precision machined parts, kits and
assemblies. The company has a reputation for
consistently delivering the highest quality
premium products and services to major oil &
gas OEM’s including Cameron, Weatherford,
FMC technologies, GE Oil & Gas and
Wellstream International. The Company has
also built relationships in new sectors such
as nuclear, aerospace and renewable energy.
It also has long-term rolling contract to
produce moulds and tooling with a leading
global refractory product manufacturer. The
Company has a consistent track record of
profitability and cash generation.
A family owned business, Hyspec has been in
operation for the last 33 years in Scotland.
Established in 1977 under the name of ‘Jigs
and Fixtures’, a partnership company,
originally and engaged as tool maker
catering to the fabricating and fork lift
truck markets. In 1997, it received a
rolling contract as sole supplier of moulds
and tools to one of the leading global
manufacturers of refractory products. In
2000, it moved into the oil & gas sector and
gradually expanded its business with blue
chip oil & gas companies in this sector. In
2010, the business was restructured and
transformed into a limited liability company
and rebranded under the brand ‘Hyspec’. The
assets were transferred to Hyspec
Engineering Holding Ltd and the business was
transferred to its subsidiary.
The company whose office is located near
Glasgow at Stewarton, Ayrshire, Scotland has
its workshop/ manufacturing facility spread
over 34,000 sq. ft. area. With state of the
art CNC machines, it has capabilities to
manufacture complex parts, ranging from 10mm
to 2.35 metres in diameter and up to 5
metres in length. The installation of two
new Mazak machines has broadened the product
range targeting to aerospace and nuclear
sectors whilst also offering a larger scope
of work to the oil & gas sector. Currently
the Company employs about 110 people, mostly
from the nearby areas and most of them have
been with Hyspec for a long time.
The acquisition of Hyspec has been in line
with the UES strategy to enhance its
capability to cater to high end markets of
precision engineering especially in sectors
like Aerospace, Nuclear, Defence, etc. and
at the same time consolidate its position
with existing oil & gas customers such as
Cameron and FMC Technologies globally for
OEM products and to achieve preferred
subcontractor status. There will be
opportunity for leveraging Hyspec’s
expertise by establishing new or upgrading
existing facilities to provide lower cost
products closer to the customer. Hyspec
could provide training to UES employees at
its machine shop. There will be
possibilities of exploring cost optimisation
in terms of procurement and logistics. With
this acquisition, UES’s geographical
footprint spreads across Asia, Middle East &
Europe.
UES, on closing, has paid a total amount of
GBP 17.25 million out of which GBP 14.08
million is towards sale consideration and
balance GBP 3.17 million towards replacement
of existing directors loan in Hyspec. In
addition, there are two earn-out payments of
GBP 1.8 million and GBP 0.5 million, each
contingent upon achieving certain threshold
performance for the current year ended 31st
March 2012. There is no debt in the Company
except for hire purchase of the two new
Mazak machines. The deal was funded by a mix
of debt and equity, with one of the
international bank extending the debt
financing to UES.
Dear Investors,
We are pleased to release financial review
reports of MB Petroleum Services LLC and its
subsidiaries and MB Holding Company LLC and
its subsidiaries for Q-3 2011( 9 months
period ended 30th September 2011) as
attached.
Please note that these reports are also
available at our websites (
http://mbpetroleum.com and
http://mbholdingco.com ) under our
“Investor Relations Cell” section.
In case of any queries please contact us at
below email addresses:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards,
MB Investors Relations Cell
MBPS: Q3-2011
Release of financials and Investors
Conference Call Invitation
Dear Investors,
MB Petroleum Services LLC, together with its
parent company MB Holding Company LLC, will
report financial results for the third
quarter 2011 on 20th November 2011 at 7.30am
(New York) 12:30pm (London), 4:30pm (Oman).
A conference call for investors and analysts
will be held on 21st November 2011 at 7:30am
(New York), 12:30pm (London), 4:30pm (Oman).
For details please
click here.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards
Investor Relations Cell
9th September 2011
Mawarid Mining to invest in Nautilus Mining
Inc.
Mawarid Mining LLC (MM), a subsidiary of MB
Holding Co. LLC, has subscribed for a 9.98%
share of Nautilus Mining Inc.(Nautilus) a
company listed on the Toronto Stock Exchange
(TSX).
MM will make an investment of C$ 49 million
to purchase 19.44 million shares, at a price
of C$ 2.52 per share, equivalent to 9.98% of
the increased share capital of the company.
Nautilus is raising approx. US$100 million
through a private placement of common shares
by issuing 39 million shares to a number of
investors at a price of C$2.52 per share.
Under the terms of the agreements, the
allotment will be completed in two tranches,
with the final closing taking place on
October 6, 2011. The first closing took
place on September 8, 2011, wherein Mawarid
subscribed 50% of its total shares and the
remaining 50% shares will be allotted on
final closing. The shares have been acquired
through a SPV (Mawarid Offshore Mining Ltd.
BVI) which is a 100% subsidiary of MM.
A company registered in Canada, Nautilus is
listed on the TSX and AIM stock exchanges
and has its corporate office in Brisbane,
Australia.
Nautilus is the first company to explore the
ocean floor for polymetallic seafloor
massive sulphide deposits and is currently
developing its first development project at
Solwara 1, in the territorial waters of
Papua New Guinea, where the company is
aiming to produce gold, copper and silver.
The company has been granted all necessary
environmental and mining permits.
Nautilus is intending to commence operations
at the Solwara 1 deposit by the end of 2013.
Funds raised through this private placement
will be utilised to fund the development of
the Solwara 1 project.
The company also holds approximately 600,000
square kilometers of highly prospective
exploration acreage in the western Pacific,
in PNG, the Solomon Islands, Fiji, Vanuatu
and Tonga, as well as in international
waters in the eastern Pacific.
Its major shareholders include Metalloinvest,
the largest commercial iron ore producer in
Europe and the CIS, which has a 21% holding,
and global mining group Anglo American,
which holds an 11.1% interest. More details
about Nautilus are available on its website
www.nautilusminerals.com
Existing Nautilus strategic shareholders,
Metalloinvest and Anglo American are also
participating in the private placement.
Metalloinvest has subscribed for
approximately 8.2 million shares to maintain
its interest in Nautilus at 21%, and Anglo
American has subscribed for approximately
4.3 million shares on the basis that its
stake will be maintained at 11.1%.
Institutional investors have subscribed for
the remaining 7 million shares to be issued.
MM is currently engaged in copper and gold
exploration in Oman, where it operates
several open pit copper mines and processes
ore at its copper concentrate facility in
the Al Batinah region. Investment in
Nautilus is a long term strategic investment
which provides an opportunity to participate
in the unique and emerging seafloor
resources industry and increases
geographical diversification while also ,
delivering significant first mover
advantage. MB Group also sees synergies with
Nautilus in drilling as well as
engineering/manufacturing areas.
MM has also been granted anti-dilution right
to maintain its% shareholding in Nautilus as
and when any common shares or securities
convertible into common shares are issued by
Nautilus, until the earlier of the date of
commencement of first production or February
28, 2014.
MBPS: August -2011 and Q2-2011
Release of
financials and Investors Conference Call
Invitation
Dear Investors,
MB Petroleum Services LLC, together with its
parent company MB Holding Company LLC, will
report financial results for the second
quarter 2011 on 23rd August 2011 at 7.00am
(New York) 12:00 (London), 3:00pm (Oman).
A conference call for investors and analysts
will be held on 24th August 2011 at
8:00am (New York), 1:00pm (London), 4:00pm
(Oman).
For details please
click here.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards
Investor Relations Cell
MBPS: Dec-2010 and Q1-2011
Release of
financials and Investors Conference Call
Invitation
Dear Investors,
MB Petroleum Services LLC, together with its
parent company MB Holding, will report
financial results for the year ended 31st
December 2010 and first quarter 2011 on 8th
May 2011 at 7.00am (New York) 12:00
(London), 3:00pm (Oman).
A conference call for investors and analysts
will be held on 9th May 2011 at 8:00am (New
York), 1:00pm (London), 4:00pm (Oman).
For details please
click here.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards
Investor Relations Cell
MBPS Announcement, dated 16th December
2010
MBPS Q3 Investor Conference Call Invitation
Dear Investors,
MB Petroleum Services LLC, together with its
parent company MB Holding, will report
financial results for the nine months ended
30 September 2010 on 20 December 2010 at
3.00 (New York) 8.00 (London), 12.00 (Oman),
16.00 (Hong Kong).
A conference call for investors and analysts
will be held on 20 December at 7.30 (New
York), 12.30 (London), 16.30 (Oman), 20.30
(Hong Kong).
For details please see the
attachment.
Any queries to be addressed to:
inquiry@mbholdingco.com and
inquiry@mbpetroleum.co.om
Kind regards
MB Investors Relations Cell
MBPS Announcement, dated 04th December
2010
MB Petroleum Services LLC and Al Ghalib Co.
Ltd sign MOU to form joint venture in Iraq
MB
Petroleum Services LLC (MBPS) and Al Ghalib
Co. Ltd (Al Ghalib) announced today they
have signed memorandum of understanding (MoU),
establishing a joint venture (JV) in Iraq
for the provision of Petroleum Services. JV
shareholding will be 60% by MBPS and 40% by
Al Ghalib.
The JV will be formed to pursue future
opportunities in Iraq covering the full
range of drilling, workover and production
services. This includes Drilling, Workover,
Well Testing, Wireline/Slick
line/Perforation, Data Acquisition,
Cementing, Coiled Tubing, well stimulation,
production optimization, High Pressure
Pumping, Frac, Mud Logging, Completion,
Drilling Fluids Engineering, Drilling Fluids
Chemicals and Integrated services.
The JV will enable MBPS and Al Ghalib to
establish a scalable and profitable position
in the growing Iraqi Oil and Gas market by
building a lead position in the world third
largest oil reserves base. The deal will
also enhance both companies’ growth
prospects.
The partners have already started the
pre-qualification round with the major
operators in Iraq and are looking forward to
commencing operations in Q2, 2011. As part
of their investment commitment to the Iraqi
Oil & Gas market, the partners are in
process of negotiating the order for two
fast moving heavy workover rigs from
Drillmec – Italy.
MBPS will bring to the joint venture its 25
years of rich experience in the integrated
oil field services and technologies gained
across 15 countries spread over 4
continents.
MBPS is a multinational company
headquartered in Muscat, Sultanate of Oman
and is actively engaged in providing
integrated oilfield services and has
presence in more than fifteen (15) countries
spread across Middle East, North Africa,
Europe, Australasia and South East Asia with
25 years of experience in providing onshore
oilfield services like drilling, workover,
wireline, well testing, coil tubing,
drilling fluids mud logging etc to leading
exploration and production (E&P) clients
such as Shell, Chevron, Exxon, Occidental,
Saudi Aramco, Gas de France, British
Petroleum, British Gas, Nexen, Qatar
petroleum, ONGC India etc.. MBPS owns a
fleet of 74 drilling and work over rigs and
employs more than 6,000 employees of 49
different nationalities. MBPS is a
subsidiary of MB Holding Company LLC, a
privately owned Omani holding company with
business interests in exploration and
production of oil & gas, oil & gas services,
mineral and mining and investments (“MB
Group”).
Al Ghalib has a long standing business
presence in Iraq with more than 20 years
experience in drilling equipment supply and
considered to be the market leader in Iraq
for after sales service. Al Ghalib main
clients are Iraq Ministry of Oil, Iraq
Drilling Company, South Oil Company, North
Oil Company and South Refineries Company.
2009 - 2010 Al Ghalib, through its JV with
Drillmec, supplied the Iraqi Ministry of Oil
with 22 drilling and workover rigs which
were assembled and commissioned at their
base in Basra.
Al Ghalib is currently constructing a state
of the art service centre, work shop, and
spare parts stores in North Rumaila to serve
Iraqi Drilling Company, drilling
contractors, and International E&P
Operators. This Center will also have around
the clock mobile maintenance teams. Al
Ghalib also have business interest in
Rotating Equipment, Road Rehabilitation and
Concrete Handling Equipment.
MBPS Announcement, dated 20th November
2010
MBPS
Successfully launched its Bond Issue
MB Petroleum Services (MBPS) launched its
maiden high yield bond issue (Senior Notes
Offering) under 144a/Reg S format of US$ 320
million which was closed on 15th Nov-2010.
With this maiden issue, MB Group has entered
into the global capital markets. The notes
are listed on Luxembourg Stock Exchange’s
Euro MTF Market. The notes were issued
through MBPS Finance Company (Issuer) a
wholly owned subsidiary of MBPS, which are
guaranteed on a senior basis by its parent,
MB Holding Co. LLC (“MB Holding”), MBPS and
certain of its subsidiaries. The Notes has
been rated B+ by S&P and BB- by Fitch.
Barclays Capital, HSBC and Standard
Chartered Bank were the Joint Bookrunners
and Joint Lead Managers to the issue.
Investors from US, Europe, Middle East and
Asia participated in the issues.
The net proceeds of the offering have been
utilized to repay existing indebtedness of
MBPS. The broader objective of this bond is
to establish MB Group in the capital
markets, diversify its sources of funding,
improve short term liquidity of MBPS and
improve corporate governance including
reporting transparency. This will position
MB Group itself to set a track record for
long term expansion and growth in Oman and
internationally
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