GREY:BLKWF - Post by User
Comment by
sculpin2on Oct 20, 2014 11:08am
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Post# 23043278
RE:RE:RE:Mexican rigs
RE:RE:RE:Mexican rigsYes this sale is really a horrible destruction of shareholder value. CEZ sold these rigs at about 20% of replacement value. Hopefully they can realize better on Mexico & the US hztl biz.
TD estimates $28MM for Mexico and $25MM for the US. Zero for Libya. If this comes to pass then this equates to $0.11 net to shareholders.
At least with this sale, cash burn drops and the bank must be less anxious with the $17mm owing given the quality of the assets now left and the lower corporate cash burn.