Offshore staff

SINGAPORE -- Singapore's Ezra Holdings Ltd. is using the $40-$50 million in proceeds from the sale of 15 million shares to finance expansion of its offshore support service vessel fleet.

"We still see buoyant demand in the offshore services support sector from higher energy requirements and opportunities arising from old producing fields. Previous capital raising exercises enabled us to successfully grow our fleet size," says Lionel Lee, Ezra managing director.

"We are confident that this placement's proceeds will likewise spur and enable us to ride the next growth phase. As our key clients increase their activities in offshore oil and gas exploration and production, we remain responsive to their needs," Lee says.

2/16/2007