Stock News: KS Energy may gain on China contract

KS Energy Services Ltd may gain after it said its joint venture company with an unidentified partner, has won an 8.1 mln usd contract to charter a skid mounted land drilling rig to a China national oil company for an initial three-year fixed term with an optional one-year extension. Under the joint venture agreement, 70 pct of the profits will go to KS Energy.Yesterday, its shares closed down 0.03 sgd at 2.62.