Loyz Rex will purchase the two rigs for a combined consideration of just over $26 million, with an initial $1.8 million deposit to be paid to JT Oil within seven days of signing the agreement, with an additional $2 million to be paid by 20 December and the remaining $22.2 million by 5 February next year.
Loyz said the deal would be funded by a combination of bank financing and internal resources, adding the amount of financing is yet to be determined.
The
