AME purchases newbuild vessel

Through its wholly owned subsidiary, Allied Support Corp., Allied Marine and Equipment Sdn. Bhd. (AME) has entered into a memorandum of agreement for the purchase of a newbuild DP-2 vessel.

Offshore staff

BANGKOK, Thailand -- Through its wholly owned subsidiary, Allied Support Corp., Allied Marine and Equipment Sdn. Bhd. (AME) has entered into a memorandum of agreement for the purchase of a newbuild DP-2 vessel.

This newbuild vessel will replace its existing vesselAllied Commander which was sold in a transaction that was completed on June 26, 2008.

The newbuild will eventually be deployed for offshore oil and gas survey, diving, and ROV work in the Southeast Asia, with a primary focus for Malaysia. Expected delivery is July 15, 2008.

On June 6, 2008, AME, an indirect affiliate company of Mermaid Maritime Public Company Ltd. entered into a master services agreement with Mermaid's wholly owned subsidiary, Mermaid Offshore Services Ltd. (MOS)

This allows each company to access the other's subsea vessels, ROVs, equipment and personnel. AME and MOS and operate two and seven subsea vessels, respectively. Both parties also have a fleet of ROVs and other specialized equipment and personnel and, provide clients with subsea engineering services including inspection, repair and maintenance, light infrastructure installation, emergency call out services and
salvage.

06/27/2008

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