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    DAFR   RODAFRACNOR5

S.C. DAFORA S.A.

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Dafora SA : The mobilization of the second rig for drilling campaign in Israel has commenced

05/14/2013 | 01:51am EDT
The mobilization of the second rig for drilling campaign in Israel has commenced 14 May 2013

As previously announced, Dafora SA leading Romanian provider of onshore contract drilling services for energy companies is coming closer to start-up date of the drilling campaign for Israeli Givot Olam Oil Ltd. Company, using its Dafora Rig 16 unit which will operate under the current contract for an initial 18 months interval with an estimated two years extension.

Dafora SA concluded early this year an extensive upgrade and reclassification project of its Rig 16 being accepted by ModuSpec, the global leading expert in ensuring operational integrity of drilling assets. The "Full Rig Condition Survey" and "Acceptance Survey" were performed having Givot Olam Oil Ltd. Representatives present on Dafora SA's facility in Apahida, Romania. The "Acceptance Survey" was conducted by using ModuSpec's Acceptance Guidelines Programme, which includes testing all equipment and systems to verify their condition and performance. Following the Client acceptance, The Rig was shipped from Romania to Israel and it is presently under offloading operations in Port of Ashdod followed by in land transportation to the first location as soon as harbour's operations will be concluded.

Dafora SA's management team is fully committed to acting in the best interests of the company and all its stakeholders to create value. Continuing to invest in our rig fleet is critical to enhancing our long-term competitive position, and given the attractive opportunities for new international frontiers. This will enable us to execute our operating strategy in pursuit of financial excellence.

The onshore drilling industry is dynamic and continually presents challenges and opportunities and the present cooperation with Givot Olam Oil Ltd. represents a milestone of great importance for Dafora SA in its journey to be a "Driller of Choice" for our Clients.

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Financials
Sales 2020 38,7 M 9,11 M 9,11 M
Net income 2020 -13,3 M -3,12 M -3,12 M
Net Debt 2020 54,2 M 12,8 M 12,8 M
P/E ratio 2020 -1,00x
Yield 2020 -
Capitalization 15,0 M 3,54 M 3,54 M
EV / Sales 2019 0,89x
EV / Sales 2020 1,74x
Nbr of Employees 150
Free-Float 37,0%
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Managers and Directors
Gheorghe Calburean General Director
Mircea Calburean Chief Financial Officer
George Razor Contracting Manager
Cristina Maria Suteu Human Resources Manager
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