Tuscany International Drilling Inc T.TID

TID Asset Value... Don't forget existing contracts

[kobeeric]

Just a quick reminder as for establishing a value of the assets for TID.  Most of the rigs are on 6 month plus contracts that are profitable, hence are carrying value.  This is on top of the value of TID's young fleet of drilling rigs.

[onthecase]

Too right, kobeeric. That's why I'd like to see a suitor for the entire operation intact. Ideal situation: we develop multiple suitors and solicit multiple offers. Fraction of book for selling off pieces isn't optimal. A premium on book value for a complete operation which is profitable going forward? Heck yes, I'd take $1+ per share. Keep in mind, there's also more than just

[sherbrooke1]

This post has been removed in accordance with Community Policy

[onthecase]

sherbrooke1, you and I see it the same way, which surprises me not at all. You should see how much of the restructuring officer's declaration centers on not rocking the boat down in Columbia, keeping a coherent, functioning, profitable operation in place. For someone, obviously. Someone who will be in the right place to catch all the late payments that brought Chapter 11 around in the first

[khaledb]

Onthecase...our claims shouldn't be big. We have to ask for raisonnable claim to have more chance to get something. So far we accumulate 23millions shares if we will ask .10 or .20 cents/share (total 4.6 millions dollars) could be considered as reasonnable amount  from the judge and also form CS.  We  don't want to follow this mess for years.  We lost enough money and

[onthecase]

Good point, khaledb. Under the process we're following, we won't be asking a set amount, rather we'll be compelling the other side to open up TID to honest bidding. The market will then set the price, based on the assets and the competitive bidding among potential acquirers. The court case only opens the door for us - it's the market that will make us whole.

[Rennsport911]

From a industry competitive viewpoint, it would be much prefered for any interested party to acquire the assets in an open bidding process. In the end, they would end up with quality assets at a somewhat discounted price, takeout TID as future competitor (under a newly restructured company) and tighten up the supply and demand for such services with less players in the market. There must be

[davwal]

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