Dafora Medias (BSE: DAFR) has signed an agreement with Amromco Energy

Dafora Medias yesterday announced the signing of a framework agreement for 4 years with the U.S. oil and gas company Amromco Energy, according to a communique submitted to the Bucharest Stock Exchange (BSE). Amromco Energy is a private independent oil and gas company, based in Houston, with operations in Romania. The drilling program consists of drilling, this year, six wells with depths between 2,200m and 3,000m. Works at the first well, whose designed depth is 3,000m, will be executed with a drilling equipment with a capacity of 200 tons. Dafora posted in the first nine months of 2012 losses of RON 11.94mln, up 68.2% y/y. The company is leader on the Romanian drilling market and executes drilling works for oil, natural gas and geothermal waters and maintenance and transportation services for drilling equipment. Dafora has a registered capital of RON 100.2mln, divided into 1,002,323,294 titles, with a face value of RON 0.1/unit. The largest shareholder of the drilling and construction company is businessman Gheorghe Calburean, with a 49.96% stake.

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