Thats what I think,, he's keeping optionality alive...Happy to take the 4 points in June..gives us another 6 months for him to figure it out...Hoping BOEm drags their feet
the Boem up in the air, who knows they may actually pay us June 15.
Iknow the calculation for issuance of surety bonds for off shore companies formula or at least what it was, are any surety bonds being issued anymore or is the market closed?
Love to see it in Websters next year! Your credit of course.
Yep. Just have a few left. This is same as the Ultra Pete shareholders to name another one this past week. Fought it all the way down to their death, bonds moving up post bankruptcy. There's over a million shares available to short now of WTI, but I'll leave it alone, at 18c we are the equity.
So you were the guy hopping my bids on the 2's and 3's and 4's? Took me awhile to cover most of my short call position.
David Warrens group. This maybe effectively private. They may do a secondary to raise some cash to pay down the banks a little and get more stock into the public hands, otherwise..this will trade by appointment only
Khosler been around the block a bunch of times.
Seeing some good sized offer wanted on WTI paper, 2 days before earnings so lets hope this is a positive sign for us. Covered most of my short calls Crazy to leave sub 30c options outstanding.
Nice weekend to all...
from mid 50's. Remember Rowling owns 20% and if he wants to take this private, he has to pay the bondholders 100c on the dollar in a change of control PUT. All of this I mentioned to people 3-5 months ago. Suddenly the bonds have been on fire, along with other stuff as well, but 8 yesterday and 10 today seems a bit odd to me...Of course its my position talking with no other knowledge but just an FYI to all...
Why short it without a bond hedge? Too late for that trade now...never SHORT the turn. I was short for awhile versus the Nog debt, light..but your shorting a levered equity and that could get ugly...
Agreed, But if there was any thought about equitizing the seconds, which was on page 9-13 of the 10K, we may have pushed that aside with these prices shifting the balance all to the bonds. Getting a little exciting
PI, apparently reading is not your strong suit. Believe what you wish. Matters not Bonds go 16-18 million up. At some point you will understand we are really on your side, I don't want this equity.
Than on page 8-13 of the 10-K they talk about how they may need to equitize some or all of their debt...6th time I wrote this...
request. Too late for a qualified DEC 31 2015 10-k probably. ON page 8 of the conf call transcript, Clearly we recognize we have a debt issue that needs to be solved, we have hired advisors etc etc Its about the 6th time I wrote this....
Read the text,, he said it 4 or 5 times. Denial isn't good. I even quoted him directly for you a month or 2 ago. Read the text.
PI.. I have watched company managements in the past buy their own stock within 1 day of chapter 11 filing. Distressed managements can be blind. Next week statments are key. The buying you see now is all mutual funds buying with new money deposited in their accounts. They are buying across the Board. Doesn't mean a thing. Next week and of course June 15th..Stay tuned. You can still buy bonds at 17c and get a 6x plus interest if your right on the common. Thats like selling your stock at $13..