American Oilfield Divers acquires ROV support vessel; company announces fiscal year end change to December 31.LAFAYETTE, La.--(BUSINESS WIRE)--July 10, 1996--American Oilfield Divers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :DIVE) announced today that it has acquired for an undisclosed sum the M/V M/V Motor Vehicles M/V Motor Vessel M/V Merchant Vessel Northern Surveyor, a 220-ft. dynamically positioned vessel dedicated to supporting work-class remotely operated vehicles (ROVs). The vessel, renamed the American Pioneer, can generally work in rougher seastates during the winter months. It will be utilized in the Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east market. In other Company news, AOD See HD DVD. announced that its Board of Directors elected to change the Company's fiscal year end from October 31 to December 31. "By changing AOD's fiscal year end to December 31, the Company will report quarterly and annual results on a comparable basis with other public companies in the oil and gas industry," said George C. Yax, AOD's Chairman of the Board, Chief Executive Officer and President. AOD will file a transition report on Form 10-Q Form 10-Q See 10-Q. for the two-month period ended December 31, 1995, on or before August 10, 1996. The Company will report results from its second quarter ended June 30, 1996, and file the resultant 10-Q the week of August 12, 1996. American Oilfield Divers, Inc., is a leading provider of diving services, subsea Subsea is a general term frequently used to refer to equipment, technology, and methods employed to explore, drill, and develop oil and gas fields that exist below the ocean floors. This may be in "shallow" or "deepwater". products, marine construction and environmental services to the offshore oil and gas industry, primarily in the U.S. Gulf of Mexico, U.S. West Coast, internationally and to certain U.S. inland customers. CONTACT: American Oilfield Divers, Inc., Lafayette Greg Rosenstein or Cathy Green, 318/234-4590 |
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