**[investwise]** Aban Offshore: Aban Pearl Sinks Off The Coast Of Venezuela, so does the stock

 

Aban Offshore: If the $ 3 bn debt will not sink this company, extraneous factors will Aban Offshore Ltd has informed BSE that Aban Pearl, a semisubmersible ship owned by one of the subsidiaries of Aban offshore, which was engaged in contract at offshore Venezuela is reported sank in the early hours of May 13, 2010 (GMT-5) At the time of reported incident, rig was manned with 95 personnel and all personnel were evacuated safely. The causes of semisubmersible sinking are unknown at this stage. At the time of issuance of this statement, the company is assisting in assessment and in determination of the causes of the incident. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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