lo deal mid may!

http://www.4-traders.com/LANDOCEAN-ENERGY-SERVICES-9061873/news/Landocean-Energy-Services--to-Team-up-with-Range-Resources-18393521/

Landocean Energy Services : to Team up with Range Resources
05/07/2014 | 06:55am US/EasternRecommend:
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BEIJING, May 7, SinoCast -- Landocean Energy Services Co., Ltd.(SZSE: 300157) General Manager Tang Chengze said at a a press conference for performance that the time for it to sign a general service agreement with Australia-based Range Resources Ltd. was in mid May and the agreement would take effect on June 1. Term is eight years and value is USD 300-400 million.

He reiterated after the signing, it would conduct oil reservoir research service, working out development adjustment plans, and trigger a list of on-spot work later.

Landocean sealed a letter of intent over strategic alliance cooperation with Range on April 24. Cooperation contents include a comprehensive general service agreement, a well-drilling service management agreement, and other cooperation opportunities. 15% profit margin, or annual CNY 30 million to CNY 40 million profit, of Landocean should be ensured.

Tang added the formal agreement would be signed in two phases. Firstly, a general one should be inked. Secondly, a service one over exact work volume would be sealed.