Paratus Announces USD 60 million Receipt of Payments in Mexico

Paratus Announces USD 60 million Receipt of Payments in Mexico

Issuer

Paratus Energy Services Ltd.

Hamilton, Bermuda, June 30, 2024 - Paratus Energy Services Ltd. ("Paratus" or
the "Company"), today announces that its wholly owned subsidiary Fontis Holdings
Ltd. (together with its subsidiaries, "Fontis Energy"), has received USD 59.8
million from its key client in Mexico. These significant collections mark a
steady progress in the reduction of Fontis Energy's receivable balance, which
had seen an irregular increase since Q2 2023 due to re-certification procedures
required by the client arising from the separation away from the previous
manager of the rigs.

About Paratus
Paratus Energy Services Ltd. (ticker: PLSV) is an investment holding company of
a group of leading energy services companies. The Paratus Group is primarily
comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seabras.
Fontis Energy is an offshore drilling company with a fleet of five
high-specification jack-up rigs working under contracts in Mexico. Seabras is a
leading subsea services company, with a fleet of six multi-purpose pipe-laying
support vessels under contracts in Brazil. In addition, Paratus is the largest
shareholder in Archer Ltd, a global oil services company, listed on the Oslo
Stock Exchange. For further information visit www.paratus-energy.com

For further information, please contact:
Robert Jensen, CEO
[email protected]
+47 958 26 729

Baton Haxhimehmedi, CFO
[email protected]
+47 406 39 083

More information:
Access the news on Oslo Bors NewsWeb site