Guess they're flying under the radar, and currently under yesterdays closing price. Gee whiz, thanks for your post, it was a really, really big help. I got an idea. If you come up with any other earth shattering predictions, keep them to yourself, loser.
Why don't you scurry on out of here pumper. Been here a month and now you're an expert? Believe you predicted $3 a month ago when you first got here. Like I said there's only 3.38 mil shares shorted, so I doubt they'll be much short scurrying panic loser.
There's only 3.36 mil shares short as of the end of April. Majority of them probably shorted above the current share price. Wouldn't exactly be stampede, no matter what kind of news they may or may not announce. Share price has come a long way since the 52 week low set in Feb, but you're right, seems to be having a problem reaching $3, considering that most their news seems very positive. New contracts will come, but I believe most of the big oil producers have reduced their exploration budgets. They will limit new wells to areas they know have oil, and not waste their reduced budgets on areas where they may not strike oil. So theirs going to be less wells being drilled as a result, and competition is going to be pretty intense in my opinion. ORIG will undoubtedly win some contracts, but it will likely be awhile before things return to pre-oil crash levels.
So, you know that for sure? I think you're just guessing and trying to pump up the stock price. What's the point? If it gets there, it gets there. If it doesn't, oh well, not much anyone here can do about it. Dynamics in the energy market are ever changing so it's impossible to predict how high oil will go in the future. The ability to over produce is available. If it wasn't for supply disruptions due to conflicts, disasters, financial problems, etc. etc., oil would probably be a lot lower than it is. Lot of speculation right now that oil is going to keep going up, and maybe it will, but high it will go and how long it takes it get there are just a guess.
Actually claiming to be an analyst enlightening the common share holder by posting on a Yahoo message board? Guess you'd be the last person in the world share holders should listen to. Especially after reading your gobbledygook post. Analysts are a dime a dozen and they all seem to have a different so-called analysis of what an individual stock is going to do or what the markets are going to do, etc, etc. For everyone that guesses correctly, they're probably a 1000 that don't. Sure, there ae some very smart analysts out there, but they're helping themselves and their rich clients. They're not posting on a penny stock message board. The only thing that's going to move this stock over $5 is some new contracts. They'll eventually come, but not until big oil's exploration budgets improve. Right now they're focused on oil fields that they know have oil, rather than trying to find new ones. They can't afford to drill and come up dry, so they're likely going to expand their production where they know for sure there's oil. There will be some drilling work available, but not like it was a couple of years ago. At least not for awhile.
And you can't stop talking about idle rigs and how oil's going down and orig is going with it. Been that way for months. You bashed based on the same #$%$ prior to the Feb. lows. You're still bashing about the same #$%$ and since those lows the price of both oil and orig have increased a bunch. The idle rig count did go up by 1, but only becuase of the used rig they bought. Same #$%$ out of you over and over and over again. Why don't you get your bike fixed and go find a new route paper boy?
What bottom are you talking about. ORIG share price bottomed back in February along with the oil price, as well as the US markets in general. Now you're saying there is pessimism on the front page of newspapers? Hard to tell what you're even talking about, since everything has rebounded rather significantly from Feb lows.
So you're equating today's oil market to what it was last year at this time? Not even close loser? If oil went to $60 on Monday, we might get to $5. Still missing a few contracts that were in place a year ago. On top of that shale producers have reduced their production costs and all of the other oil producing nations would likely max out to catch up on lost revenue.
If ORIG stock was worth more than $5/share, then it would be there. Since it's not, your argument seems stupid. Don't believe conditions in the oil market are as good as you seem to think anyway. Supply and demand in the oil market is an ever changing entity, so it wouldn't really take much to drive the price right back down. Even fantastic earnings couldn't support the initial price surge today. What's up with that?
Why would you admit to spending way more than you would have had to if you at waited till near the close? Want everyone to know your a dumazz? Don't worry, no one believes you anyway.
And the pumpers come out of the woodwork. Don't expect any of these lame predictions to come true, unless they announce something amazing at the cc. Like several new contracts in the works? Doubt it, but would be nice if it actually happens.
So you felt the need to post this again. Still say it's an exaggeration and you can't say for sure that most of the list of bullish things you posted are fact.
Doubt that there are very few if any shorts still in this stock.
1. ORIG has a $23.62 book value per share based on 82.59 million shares outstanding.
2 They did state they should be cash flow positive thru 2017, but that doesn't necessarily mean they will be.
3. They haven't mentioned any more buybacks, but you could actually be right on this one.
4/5. If they have 2 new potential contracts on the way why would they cancel or push out new drill ship construction? If new contracts are starting to develop they'll need the new builds.
6. They currently have $734.75 million in cash
7. Yeah, the did reduce outstanding share count. What makes you think they won't sell them again if they need to?
8. They did pay $65 million for a used ship Maybe a great move, may not. Yet to be determined.
9. Total is supposed to pay ORIG for cancelling a contract. Aren't they still fighting that? Don't know if ORIG has been paid any of that money or will be paid any of that money.
Doubt it will make much difference what their earnings are, but if they provide some contract news, then they could definitely go up. If the Fed raises rates, all bets are off.
Then why are you even posting on the ORIG message board? Just to let us know what you won't do? Here's some news for you, we don't care.
I thought the ship was built for $700 to $800 million. Since it's 5 yrs old now, I doubt it's still worth what it cost to build. T. Boone Pickens is predicting that oil will go up another 20% in the very near future. I believe this is about the 4th time he's made an increase in oil price prediction in the last year or so. He don't think he was right even once, but maybe 4th time is a charm. Seems to me that oil price is doing the opposite of what the dollar index is doing. Dollar goes up, oil goes down, and visa-versa.
Oil's been range bound for quite a while. Wake me when it gets over $50 and stays there. Until that happens and/or they acquire some new contracts, I don't expect ORIG's share price to get over $5.
Doesn't seem like the best price to short at, but the way things are going for VRX the share price could drop below $20. Good that Ackman is hainging tough, but he's stubborn to the point of being ridiculous.