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SeaDrill Limited Message Board

  • mikecline3 mikecline3 Feb 16, 2011 5:28 PM Flag

    breaking news

    seahawk to delist which seadrill owns 10% timber

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    • i'll accept your calculations and evaluation of the outcome as less than stellar. That said, they were positioning for a buyout of pride, which would have been a much bigger positive. Not all deals work out as planned. As a missed deal, it doesn't look bad to me. Appreciate your knowledgeable posts.

    • we busted through a new 52 week high :) I'm loving Sea Drill. I got in at the mid 20's the firt time. We are going to 44$, no crying today

    • Sea drill management are no dummys. I'm sure they made provisions going into this. Like they don't talk to Hawk. come on.. everything begal would bee good

    • lol moron, SDRL received the shares in spin off as a result of its ownership in Pride, which is going to net JF and SeaDrill shareholders $625M in profit when Ensco closes on Pride (or before if he choses to sell)...Can you say "special divy" for SeaDrill shareholders Cline...?...*smirk*

      BFD, 2M HAWK shares to JF is the same as 100 to you and me...Still worth $7M+ and its FREE money, it was a spin off...

      Cline, you can't get anything right...Still don't have a clue!

      • 1 Reply to sl_hub
      • "which is going to net JF and SeaDrill shareholders $625M in profit"

        The size of the original investment was about $560 million and the value of PDE position is at the moment $660 million-> gross profit of about $100 million. Return of the investment: $100MM/$560MM= 17.8%. The position in PDE was acquired in the April of 2008 so about 3 years ago. 17.8/3=5.93% per annum.

        However that calculation doesn't include the transaction costs or interests. With a 3% interest rate the cumulative interest expense is $50.4 million. (($100MM-$50.4MM)/560)/3=2.95 That's an annual return of 2.95% which is horrible. This investment was a near complete f*ckup.

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