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Ellington Financial LLC Message Board

ringhofer2000 1 post  |  Last Activity: Feb 23, 2016 9:01 AM Member since: Jan 23, 2006
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    20 million payment helps

    by jiilive Feb 23, 2016 8:29 AM
    ringhofer2000 ringhofer2000 Feb 23, 2016 9:01 AM Flag

    suckers rally, big contract termination payment obviously helps but it means the revenue from that contract won't be there in the future, rig count down across US, even oil rally to $50 (long shot now) does almost nothing for significant increase in frac sand or frac prices - note the temp closure of Atlanta and employee layoffs. credit line cut by lenders after due diligence, no prospect of big enough cash flow/income to pay dividend particularly with covenant restrictions, competitors also hungry for business with no dividends. Dead money, risky to buy into any kind of rally.

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