Unless I missed this before they had a one line in there saying they have assessed their financial condition and believe we will have adequate liquidity to fund ops through 3/31/17. However, we can't predict the effect of future bonding requirements. I don't recall the 3/31/17 being in the last report.
Language is better PI, obviously with the current strip cash flows will be much improved. Stone has no deal with their banks yet, a problem.
take a look CUbe, see what you think.
CCC, the Q is coming out soon, might aswell see if there's anything weird in there, our risk is no deal with the Boem and they have to put up cash collateral more than they have. They have hired advisorsas well but said nothing on the call. I figure we are buying here at 4x ebitda at 17c or so..so not expensive, Tracy has taken nice amounts of costs out of the business so we aren't that far away from them being able to service everything. One of the solutions to the BOEM crisis is an equitization of the debt, so they don't need to put up cash or a surety bond. We will know more soon
Said nothing except Q2 was going to be much better, duh. Optimistic on BOEM he said.
A positive Boem result and $45-50 OIL cube we can close down this thread my opinion. Right now they still will burn cash..looks like.
I'm using pricing about 30-32% higher. Nice cost reduction but we need somewhat higher pricing still....$40 -45 and we can all go home with a smile waiting for 50/60/70
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...