They claim that 2 more rigs go off contract next week.Do these rigs just pack up and leave or do they keep on pumping oil until they sign new contracts?The gulf has been calm this year do to cooler weather and there won't be many big storms this year so contracts should be coming in soon.The Mexican gov. should just buy Hero at $5 share and put Hero's rigs to work,it would be a better buisness move than looking for private companies because private companies prices will be high because of the insurance they have to purchase to drill in the gulf.The big drop in hero's market price, less then half of book value make it better to just buy them out then to look for private companies,only time will tell,but at $2.39 a share we know many are looking for a steal.
Hey Tom,were have you been,have not heard anything from you since amsc was trading much higher,it's hard to pump a stock when the pps is falling.We all know the shelf registration,but what we don't know is why a company with a billion dollar lawsuit pending very soon needs to raise money,is it bonus time already?By the way I still think you work for the company.Amsc should sell all the shares to Kevin Douglass,after all he's the only reason our gov. is involved in this case and amsc let him donate his money and buy alot more shares when they knew about Sinovel.Douglass should have played golf with amsc's management,it would have saved him millions.The best was that the gov.using the excuse they were looking to see if anyone in China made money by shorting the stock with the inside info, and charged only a friend of someone in management.Tom ,please give us your opinion not facts we already know.
If you were trading today it seemed that anyone who placed a buy order at any price was filled no matter what the ask was,esp. at the close.I never have seen a company loose this much market value in 3 days,managements not being concerned might cost them to loose the company and their jobs,hope they get a buyout offer soon.
Fieldwood management very interested in buying hero ,will make them dominate the gulf and they are loaded with cash,could put many rigs to work.
Did anyone else notice that Bloomberg now gets paid buy short hedge funds to do hit pieces on the stocks they short.Wall street is getting more corrupt every day and the sec is a joke,they go after Martha Stewart for insider trading for pubilicity, while the big boys are stealing millions off of hard working Americans by manipulating markets with shorting stocks.How did their story warrant a 80 million drop in market value in one day,what a snow job.
I have to admit you hit the $2.50 price right on the head.Are you part of the hedge fund shorting this pos?Do you really think you could take it to 0,with the north sea contract they have in place?
If oil was $30 brl.,I could see idle rigs,but at over$90 brl.,they should be booked solid,contracts should start coming in soon,hero trading at a price when oil was at $30 ,worst day ever for this stocks shareholders.
Getting 9 million for salvage is pretty good,maybe $3.50 not $2.50,go short in your pants.
Arch,the only defence Sinovel has is that amsc product was not working so they were forced to steal the code so they could produce a product that worked.
All everyone talked about was this lawsuit and now that it's on it seems that we lost before it's even over.The pps is trading like the Chinese courts might award Sinovel instead of amsc.Amsc pps should have gone up just on the news that the trial began with all the evidence they have on Sinovel,but instead Sinovel pps is going up and it started before the trial began.The India lawsuit of 12 mill. that amsc lost had everything to do with the starting of the Sinovel case,now Amsc will have to play defence instead of offence because of the results of that case.Just when Amsc started to look like it was starting to get on its feet, the lawsuit in India knocked them down and now it looks like China is going for the knockout.Why would big money go into a company that has a billion dollar lawsuit against it unless the outcome was known already.The day to day trading will be a mirror of how the trial is going and so far the way amsc is trading it dosnt look good,to me it looks like the fix is in.
Arch,watch how Sinovel trades tonite,if the pps goes up on high volume,the Chinese fix is in and amsc is screwed,if it tanks we have a chance but the way Sinovel was bought right before the trial was anounced and the way amsc traded today is a bad omen for amsc shareholders.We should have been up at least 5% today with the news that the trial started,but we traded flat,this tells me that something is not going right right from day one of the trial,wish I could read the trial transcript.
Oil was up $1.89,dow up 100 ,nas up 34,and hero hits a new low and closes there,without news of a contract or a buyout we will see shorts have their way with hero .At this price you would think someone would try to buy them out,or management would try something creative like a small divi. or a trust to raise money to put rigs to work,but nothing.