They already disclosed this news a month ago in a PR. They renegotiated their contracts with ENI to utilize that rig and are still going to pursue damages from Total.
It looks more and more possible that ORIG restructured those contracts so the company could look more attractive to a buyer. DRYS sells ORIG for 14 plus and has money in the bank to survive this nasty market.
Option Alert: Penn Virginia Jan $7.5 Call; 2,000 Contract Trade @$0.45; Currently $6.55
Discovery Labs Shares Up 19%; Company Spokesperson Says No News from Company, Aware of Recovery and Volume; Not Sure Who Buyers Are; Says No Reason for Previous Selloff
Dayrates are still over 500k for Drillships
We need a positive PR or their one remaining drillship to get a contract to stem the bleeding
I agree with you 100 percent. So much manipulation on wall street. The deep pockets are destroying it and when they decide for it to go higher they will push it higher but everyone else will be crushed.
Hearing Unconfirmed Report of Lotte/Samsung Stake in Target
I just looked at analyst estimates for VMEM-
Jan 15 projections 79 million jan 16 102-
VMEM said in the earnings call PR that they are seeing 40 to 50 growth rate so revs at 112 to 120 which is a huge beat to expectations of 102. The CEO took 100 percent pay in company stock.
George is not going to be selling the cash cow now that DRYS raised a ton of money. They think ORIG is worth 49 a share from their last presentation
Dryships inc drys.o - george economou, president and ceo, purchased $80 mln, or 57.1 mln shares, of common stock in offering at offering price
24-oct-2014 08:46 - dryships- to use proceeds to r
Those earnings and EBITDA are generated from ORIG so that is the play not DRYS