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Transocean Ltd. Message Board

  • reality90210 reality90210 Nov 4, 2011 12:01 AM Flag

    Why Transocean will no longer command the prices it did in the past

    First of all, I admit that I was a Transocean shareholder until recently.
    I took a loss and moved on..

    Here's why I feel one should cut their losses
    1. Aker drilling: Should never have purchased it
    2. 1B dividend: should have used it to update their fleet
    3. Contract with BP: It's not as iron clad as RIG wants you to believe. Remember a contract is not necessarily valid if RIG didn't provide a sea worthy vessel. The government investigations did find that RIG was negligent in maintaining its vessel the Deepwater Horizon. in addition, RIG was quick to claim insurance losses on it. It is similar to renting a shiny car with no safety belts. The rental company bears some responsibility and would need to be REGULATED
    4. Costs to bring up its fleet to new safety regulation levels in GOM are expensive.
    and the BIGGEST reason...

    Who hired this USED CAR SALESMAN ? ....
    He needs to GO !

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