*Aban Offshore: If the $ 3 bn debt will not sink this company,
extraneous factors will
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Aban Offshore Ltd has informed BSE that Aban Pearl, a semisubmersible ship
owned by one of the subsidiaries of Aban offshore, which was engaged in
contract at offshore Venezuela is reported sank in the early hours of May
13, 2010 (GMT-5)

At the time of reported incident, rig was manned with 95 personnel and all
personnel were evacuated safely. The causes of semisubmersible sinking are
unknown at this stage. At the time of issuance of this statement, the
company is assisting in assessment and in determination of the causes of the
incident.
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