Lots of positive news but little response from the share price – I think I know why!
The group’s associate company, Velosi Oman which is 50% owned by Velosi, has been re-awarded a quality assurance, quality control and third party inspection services contract with Petroleum Development Oman (“PDO”). The new contract is worth an estimated US$30m and commences in June 2009, covering a period of four years. Velosi will provide quality assurance and quality control services throughout Oman, and third party inspection services on a global basis.
PDO is the major…
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