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Suspension for Timan
 London-listed Timan Oil and Gas Plc has had it shares suspended from trading on the Alternative Investment Market after a continued failure to file its audited annual results and annual report to shareholders by 30 June, due to continued delays in funding.
Timan says its shares have been suspended with immediate effect pending completion of the audit, the announcement of its results and the post of the annual report to shareholders.
Presently the company, which has assets in the Caspian Sea region, says its expects the audit to finished by August, “..subject to appropriate funding being in place.”
Since 1 June, the company has received a US $388,000 payment and a further $1 m is expected this week.Advertisement
 Siem WIS, a company 60% owned by Oslo-listed Siem Offshore, has landed a co-operation contract with StatoilHydro in connection with the development of its Riser Pressure Control Device (RPCD) technology for an unspecified amount. [Les mer ] • Contracts
 Aker Solutions won convincing approval from its shareholders, at an extraordinary general meeting, for the oilfield services group to go ahead with the controversial NOK 1.7 bn ($263m) raft of asset purchases from industrial group Aker ASA. [Les mer ] • Company news
 Sevan Marine has revealed that US financial institution Luxor Capital says it now controls 28% of the Norwegian oilfield services group, after having exercised its right to buy 24 million convertible bonds. [Les mer ] • Financial
 Olso-listed PetroMena has announced it is aware that Singapore-based Sembcorp Marine has accepted the bid for the disputed newbuild PetroRig I drilling unit from New York Stock Exchange-listed Diamond Offshore Drilling. [Les mer ] • Company news
 Shtokman Development AG has spelled out the details of two other offshore tenders related to the giant Barents Sea project which involve the field's flowlines and service lines and risers. [Les mer ] • Contracts
 Russian suppliers jockeying for position to win work from the Shtokman project have been told by the head of the development company behind the project that they can expect to be involved long term for up to 70 years. [Les mer ] • Field development
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Shell to pay out over Nigeria caseOil giant Royal Dutch Shell PLC is to pay out £9.7m ($15.5m) to settle a lawsuit over its alleged complicity in the 1995 execution of several Nigerian environmental activists, the UK Press Association and British media reported.
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