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KS Energy unit bags US$4.1m land drilling contract

KS Energy's 80 per cent-owned drilling unit has clinched a US$4.1 million contract for the KS Discoverer 3 land drilling rig.

The Pakistan project is expected to begin in January 2016, but is not expected to have any material impact on earnings per share or net tangible assets per share for 2015 and 2016.

Shares of KS Energy, an oil and gas contractor, closed flat at 26 Singapore cents on Wednesday before the contract was announced.