GREY:BLKWF - Post by User
Comment by
jts115on Oct 20, 2014 10:29am
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Post# 23043080
RE:RE:Mexican rigs
RE:RE:Mexican rigsIt definitely stems the cash burn problem, but 7.4mn is pretty bad for a heli rig and 4 singles, especially before an election that could really be a catalyst for the Brazil Oil and Gas sector. Even assuming the singles are worth nothing, Tuscany sold their Helis for 15 a piece.
In any case, the company has 27 in debt now and probably 20 in net debt,
US division is worth 15-30
Mexico division is worth maybe 18-36
At least there is some potential cash for shareholders (7 cents+)