Monday, July 23, 2007

Norway oil rig firms jump on rival US merger news

(Reuters) - Volume in the stock also surged, making Seadrill the most
traded share on the Oslo bourse and helping push the benchmark
index into positive territory from minor losses.
"It is the same phenomenon on the other Norwegian drilling
stocks now too," Fondsfinans analyst Kjetil Bakken said,
pointing also to steep gains in shares of Songa Offshore
, Ocean Rig , Awilco Offshore and
Fred. Olsen Energy .




The stocks rose from 2.7 percent for Awilco to 4.6 percent
for Songa. Energy infrastructure supplier Aker Kvaerner
traded up 2.4 percent, rising with the rig companies.


Read more at Reuters.com Mergers News

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