Hamilton, Bermuda, February 5, 2025 - Paratus Energy Services Ltd. (ticker
"PLSV") ("Paratus" or the "Company") announces today that its wholly owned
subsidiary, Fontis Holdings Ltd. (together with its subsidiaries, "Fontis"), has
successfully received full payment of approximately $209 million[1] of overdue
invoices from its client in Mexico under the receivables monetization agreement
announced on January 24, 2025 ("Receivables Payment"). The Receivables Payment
was completed in accordance with the terms of the agreement.
The Company remains committed to its long-standing relationship with its client
in Mexico and the Receivables Payments are important to Fontis' continued
successful operations in the region.
For further information, please contact:
Robert Jensen, CEO
robert.Jensen@paratus-energy.com
+47 958 26 729
Baton Haxhimehmedi, CFO
baton.Haxhimehmedi@paratus-energy.com
+47 406 39 083
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 Seagems
(formerly Seabras). Fontis Energy is an offshore drilling company with a fleet
of five high-specification jack-up rigs working under contracts in Mexico.
Seagems 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 Euronext Oslo Børs.
Note: (1) Amount includes Mexican standard VAT rate of 16%.