clgl, and others, you all need to listen to the CCs...many are speculator investments they may never be built, or might be abandoned, or off spec and not marketable.
How about tax loss buying?...This is a great situation to buy into now/or soon, IMHO. and sell higher basis shares after 31 days, no problem.
How much cash do you think Williams has?...He had already dropped over $600K since May and McClelland about $162K last month or so...I don't see any net buying at ESV or RDC (as examples), actually net selling over there.
Assuming the deal closes, I would hope they would "prune" the portfolio since there is supposedly so much embedded NAV locked up in the balance sheet...I am sure you are laughing now.
hwan, I would like to add that my second favorite stock in the sector is RDC, but I sold that a while back to add more to NE when it getting crushed far worse by comparison...I only own NE now.
If no rigs are stacked then no writedown is needed and no rigs have been stacked yet...I have no thoughts on PGN as I only owned it a few hours, my pre-meditated plan was to sell as it did not fit my risk tolerance, I will never consider buying it, I don't care what the price...My only interest now is for "educational" purposes only...I lost interest in ESV months ago, as I became concerned of writedowns including a large goodwill balance, and I have no interest in DO or even ESV anymore except also for a read on sector health...If ESV were to do another massive writedown, I MIGHT become interested again once the panic selling subsides.
I am not a shill...Williams or someone else at either the 9/3 or 9/4 CC answered a question regarding possible writedowns and the response was emphatic that this was not necessary.
gtw, I would be shocked if Cole rejected even though they may not get out whole...SIR on the other hand has over 20% of the vote locked up already...Without knowing the financing terms in advance, I am voting "no".
Got it...Fleet report out tonight, hope we have some action on a few of these floaters...On the shorting, remember that it could just be the other side of a hedge so unless I see something really out of range, I don't place much weighting on it...Opposing opinions on that are welcomed.
I don't think Noble will increase the dividend until 2015, IMHO...Debt to capital needs to come down a little bit first.
SDRL has too much leverage and is committed to keeping the dividend at a high level, its not going to happen with them or anybody, at least until 2016, IMHO.
hwan, please relax and think about it...Nobody is selling new equipment at a discount, perhaps speculators selling places in line at the shipyard or maybe off grade lower spec stuff sold at a lower tier yard in China...Dividends first (but payout ratio s/n exceed 50% IMHO) then maybe token amounts of cash if available for buybacks, this is what WS wants, it was communicated at a recent CC and I agree with it...SO it shall be...There has been material insider buying.