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Velesto Energy Scraps $63 Million Deal to Sell Jack-up Drilling Rig

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Velesto Energy (KLSE:VELESTO) canceled a $63 million deal to sell jack-up drilling rig Velesto Naga 3 to Indonesia Drilling Energy, according to a Monday filing to the Malaysian stock exchange.

The drilling services company said it issued the termination notice June 30 with an effective date of July 7, as the terms of the deal were not completed by the due date.

The cancellation of the sale and purchase agreement, which was signed in December 2025, is not expected to have a material impact on the company's 2026 financials.

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