Posted:
#76
Vermeer,
Primelead is the UDW portion of the company which will earn 5 per share next year, even with 60M shares outstanding, and the following year will add two more drillships, and two more within another 6 months of that.
Unless oil craters to the 30 range, the EPS for the full company could come in around the 12-15 per share range..given comparable rates as the two operating.
There is a ton of debt with the "spun" company since they have 4 rigs on order and the cost of those rigs is 800M each, they arent cheap but when they are earning 600k plus a day, less 120k a day in expenses you can see how valuable they are.
George cannot gain control of Primelead by himself, he does not own enough shares. I read today that he had a margin acct at GS and might have purchased some other stocks and could be needing to pony up some cash/shares of other things he owns due to the drop in the market.
He has other interests in the sector like TOPS (oil tanker stock)
Primelead is the UDW portion of the company which will earn 5 per share next year, even with 60M shares outstanding, and the following year will add two more drillships, and two more within another 6 months of that.
Unless oil craters to the 30 range, the EPS for the full company could come in around the 12-15 per share range..given comparable rates as the two operating.
There is a ton of debt with the "spun" company since they have 4 rigs on order and the cost of those rigs is 800M each, they arent cheap but when they are earning 600k plus a day, less 120k a day in expenses you can see how valuable they are.
George cannot gain control of Primelead by himself, he does not own enough shares. I read today that he had a margin acct at GS and might have purchased some other stocks and could be needing to pony up some cash/shares of other things he owns due to the drop in the market.
He has other interests in the sector like TOPS (oil tanker stock)
0
<------------july 
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