Don't see any May or June options being offered yet. Keep crying "Wolf", stench.
Samsa1, I appreciate your optimism, but I'm wondering what chart you're looking at? If it's only a one-month chart, I don't know if that qualifies for a cup and handle. I thought it usually had to be more in the 5-6 month range. Anyway, I'll take the $13 to $15 if it comes. :-)
From a Transocean (RIG) annual report:
"(1) Revenue efficiency is defined as actual revenue divided by the highest amount of total revenue which could have been earned during the relevant period(s)."
From that report I googled up, looks like AWLCF's 98.5% rate of revenue efficiency is pretty darn good. RIG's average over a number of years was barely 90%.
Seems to be a game the MMs are playing, and given the low volumes in AWLCF, they gotta do something to pay for coffee. Line up the Market Sells in the morning, move it up through the day, scalp a few hundred (thousand) bucks in the process.
I'll be buying more on the dips, trading some on the divvy run up, but keeping a core holding till the buyout, whenever that comes. In the meantime, getting 21.7% to wait (actually almost 23% where I bought in). :-)
AWDR - Awilco Drilling Reports Q4 2013 Results
Awilco Drilling PLC reported contract revenue of USD 61.4 million (USD 62.3 million in Q3), EBITDA of USD 40.5 million (USD 46.3 million in Q3) and net profit of USD 31.6 million (USD 36.6 million in Q3).
Revenue efficiency was 95.6% during the quarter (98.9% in Q3).
Contract backlog at the end of Q4 was approximately USD 762 million (approximately USD 797 million in Q3).
The Board approved a dividend distribution payable in Q1 2014 of USD 1.10 per share. The share will trade ex-dividend on 4 March 2014, the record date is 6 March 2014, and the payment date is on or about 20 March 2014.
Well, there's our answer. Maintain the regular at 0.77, but no special this year. Wasn't really expecting a special, but would have been a little frosting. We'll see tomorrow what the market was expecting.
A good lawyer would tell you to read the trust documents, and also inform you that a trust cannot enter into any new hedges, except those that were in place when the trust was established. While they may not be ideal hedges for where oil & gas prices are today, they are what they are, and cannot be changed, or re-hedged.
Anyone care to speculate on the possibility of a special divvy by EFC this quarter? I'm quite happy that they've been able to maintain the 0.77 divvy, but wondering if there might be another surprise this year. :-)
Bought at 9.38 a week ago, again at 9.23 today. Put one last buy in at just under 9, if it drops again. :-)
I also bought some more right around where you did, in the 7.70s, to cost-average down, but started getting really worried when it got down below 6, just couldn't pull the trigger yet again. I'm not sure about $15, but I may start peeling off shares above 13. It's been a long bull ride, and this cowboy needs a break. :-)
Yes, very true, and while it seems slightly counter-intuitive to do an SPO so close, perhaps the economies of scale is their target.
They are rather tiny, aren't they? Just looked at their market cap again, thought they were at least a half billion. (About how much you and the boys throw around in that room of yours on a daily basis. :-P) Yup, they got some growing to do.
Didn't they just issue 2.4 million shares to pay the share divvy? You really think they'd do another SPO on top of that? If so, why pay the extra 11 cents in cash over the 80 cents "regular" divvy?
Not a lot of open interest in the calls, probably less than a million shares worth total, so those shorts aren't covered by options. Could get real interesting around here. :-)
About half of my long position is from Oct. '12, so still got a ways to get my head above water. I'll take a buy out, a take out, or a short squeeze, as long as we get there. ;-)
A recent Seeking Alpha article linked to a chart that showed that SeaDrill's North Atlantic operation had rigs leased out as far as 2019, with options on some of them as far out as 2023 (!). For example, it's taking 5 months to get one from the builder in Korea to the site off Norway, can understand why they signed a 5 year contract on that right off the bat. All that to say that AWLCF is looking good to me, too. Missed it when it dipped below 19 today. Might have to chase this one up a bit tomorrow.