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Vantage Drilling Company Message Board

  • zd60610 zd60610 May 15, 2013 9:05 PM Flag

    New Investor Presentation

    -much more transparency around financing and cash flow for investors finally. Company could produce 200mm a year in cash flow and they guided 35-40cents in eps which could be higher with some luck.
    -good to see Sapphire has a chance at a long term contract
    -strategic next steps transparent now, biggest question will be if they use the JV for another drillship which would be bullish. No way we can afford the equity hit building another new build.
    -Potentially $500mm in ebitda in 2014. At 8x net of debt that would be roughly 3.75 a share.
    -Debt reduction doesnt improve eps much in the short term but would improve multiples and leverage ratios.
    -Big money potentially really only exists if we can either recaoture or buy back SU,s shares under 2. Thats are only shot at 6-7 intermediate term.

    -ROI,s significantly below competitors due to Titanium asset which drastically changed profitability metrics. Ashame he did that deal.

    -VTG becomes investable again once Tungsten gap contracts finalized and ship becomes operational. We should see 2.00 by September, 10 cents higher then we were a year ago before the refi.

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