Seriously, did you fall down and smack your head or did your mommy drop you?
"DB can't be oblivious, to fact Drys no longer owns Orig.. "
They aren't, you are. You had it wrong in 2011 and now. They didn't own 100% then, and now they own 59.4%.
"As for $2. divvy.. That would be more than Drys is worth.."
You exhibit a profound inability to comprehend what you read. I was talking about a special from ORIG that would give DRYS $156 million.
"There could be some additional downside but how much?"
You would certainly know "downside". You have lost your tuchus on this because you are too lazy to do any real research and must be too much of a gambler to look at companies with real prospects.
No one is sure that there ARE any sanctions affecting SDRL yet. SDRL is Norwegian. Norway is not part of the EU nor the US. With the ceasefire largely holding and prisoners being released on both sides, things at the moment are looking like progress is being made. The EU will revisit their sanctions at the end of this month.
ORIG will be up about 10% in revenues. Maybe they pay a $2 special dividend since George wants George to do well at DRYS.
Who's opinion do you think many people care about when it comes to DRYS if not DB who has history with DRYS? Seeking Alpo? The Sewerdotcom?
"All that high tech stuff is a p.r. campaign to try to generate a higher rate."
You are an idiot. There is only 10% of the drilling in ultra deepwater because there are only 10% of the rigs ABLE TO DRILL THERE. This stat will shift THIS YEAR as there are many more rigs able to drill in those depths with more coming. That's where the oil is you monkey.
Yeah, all they have to do is figure out how to make a rig that is capable of drilling in 5000 ft of water reach down an extra 5000 feet. And then they have to change out the BOP and add much larger cranes and a bigger moon pool and add some extra space for many, many more risers….. no problem that couple of hundred million won't cure PER VESSEL.
Isn't the a bit of insider trading if they covered and went long?
Why do you think you want to own it at all? Have you read any of their financials? They only file annually but they do update when they do reverse splits and share offerings however.
"Investment analysts at Deutsche Bank began coverage on shares of DryShips (NASDAQ:DRYS) in a note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock."
Yep, $131 and change. I was in it and a raging bull until George messed up bad on the first ATM. They filed to sell 6 million shares and during the quarter the stock often traded at $115 and up. He could have raised nearly $700 million (why is that number familiar) if he had pushed them through. With the over allotment it would have been over that. He drug his feet and only sold 690k shares. I think he got around a tenth of that when they stopped selling them for some reason. I got out and then saw the dry bulk market turning VERY bad very fast as the delivery schedule of bulkers hit 100% of the fleet for some classes. I stated in mid 2008 to get out of all drybulkers.
Where does the money come from to replace rigs that are old and will need to be upgraded or scrapped? Besides the cap ex of the new rigs they have ordered lately that is….