Mermaid Maritime (DU4.SG) +2.5% at $0.415 after saying 49%-owned affiliate Asia Offshore Drilling orders 2 jack-up rigs from Keppel Corp (BN4.SG), contract worth US$360 million ($471.1 million), for delivery 2012, 2013.

Stock down 16.2% since October 22 high (day it signed LOIs for both rigs), off 6.9% since Monday reporting THB456.1 million ($19.9 million) FY loss due to subsea unit losses, stock likely benefiting now from some clarity on LOIs, Mermaid’s subscription to 49% of AOD’s private placement.