Appreciate your thoughts & contribution to the EBIX message board. I have learned a lot from your earlier posts about the company, and about developing a thought-process favorable for long-term holding.
I know it's off-topic but I was wondering if you find any other companies/shares that are more attractive than EBIX.
Just trying to have an idea of the worst case scenario with Awilco. We know around $5-$6 is guaranteed with the current contracts in place. Assuming they get no new contracts AND they decide to scrap the rigs, what amount per rig would they get? I know it'd be stupid to scrap the rigs after a SPS and getting new BOPs installed, but still - what would the scrap value be? $50 million per rig?
A recent bloomberg article mentioned that Floating rigs left idle in a harbor can cost as much as $12,000 a day to sit cold stacked. Assuming $20k for WilHunter, that'd be around $7 million per year.