EMAS OFFSHORE 
By 14/07/2011
· Move would expand and diversify its shareholder base, plus help it tap new capital markets, as demand accelerates in O&G sector · Current listing on Oslo Børs expected to be maintained as it has significantly advanced Group's growth agenda for targeted marketsEOC Limited (EOC or the Group), one of Asia's leading providers of offshore construction and production services to the oil and gas (O&G) sector, is exploring the possibility of making an initial public offering of its shares in Asia, which would see them cross-listed in Asia and in Europe.
Mr Lim Kwee Keong, EOC's Chief Executive Officer, said: "Our original listing in Oslo, Norway has allowed the Group to accelerate its expansion plans, and has also strategically positioned us to capture new opportunities in the North Sea, South American and West African markets. These segments remain crucial to the Group, so we would continue to retain our European listing in Oslo. "EOC is considering a separate listing on an Asian stock exchange largely because we are keen to expand and diversify our shareholder base, as well as tap into new capital markets. This would allow us to also diversify our source of equity for our future expansion plans, as well as serve as a platform for other sources of capital. Such a move would be in line with the Group's rising visibility in terms of contract wins and the robust appetite for energy across the Asia-Pacific." EOC was the first Singapore-managed and Singapore-incorporated company to successfully list on the Norwegian stock exchange. Shares of EOC, a 46.5%-owned associate company of Ezra Holdings Limited (?????), began trading on Norway's OTC market in April 2007, but were swiftly upgraded to the mainboard of the Oslo Børsin October of the same year. The Group has decisively turned its results around, reporting today a net profit of US$3.2 million for the third quarter ended 31 May 2011 (3Q FY11), against a net loss of US$3.4 million for the previous corresponding period. Its construction and production divisions both contributed to the 179% jump in 3Q FY11 revenue to US$51.7 million.ABOUT THE COMPANY
www.emasoffshore-cnp.com (http://www.emasoffshore-cnp.com/) Oslo Børs listing: October 2007 EOC Limited offers offshore construction & floating production services and installation & commissioning work as well as transportation services that support the entire life cycle of offshore oil & gas production. It manages two heavy-lift accommodation crane barges, the Lewek Conqueror and the Lewek Chancellor; a dynamically positioned heavy-lift accommodation pipelay vessel, the Lewek Champion; and a floating production, storage and offloading unit, the Lewek Arunothai. These vessels are utilised in various support activities that last through facility development, production, operations, maintenance and abandonment. The firm operates in Australia, Brunei, India, Indonesia, Malaysia, the Middle East, the Philippines and Thailand, and is an associate company of Singapore Exchange-listed Ezra Holdings Limited, the largest owner/operator of an integrated range of offshore support vessels for charter across a broad spectrum of the oil & gas offshore support services supply chain. FOR FURTHER ENQUIRIES Mr. Chan Eng Yew EOC Limited 65 9792 8616 engyew.chan@emasoffshore-cnp.com (engyew.chan@emasoffshore-cnp.com) Ms. Carol Chong Oaktree Advisers 65 9475 3167 carolchong@oaktreeadvisers.com (carolchong@oaktreeadvisers.com) Ms. Nora Cheng Oaktree Advisers 65 9634 7450 noracheng@oaktreeadvisers.com (noracheng@oaktreeadvisers.com) Other media releases on the company can be accessed at www.oaktreeadvisers.comThe following files are available for download:
