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Bullboard - Stock Discussion Forum Tuscany International Drilling Inc T.TID

Energy Oil & Gas Equipment & Services

Bullboard (TSX:TID)

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Post by Fullblaston Feb 02, 2014 8:45pm

Meanwhile ...

Now that chapter 11 has been filed, we should expect TID to be delisted from the TSX in the next few days, maybe tomorrow. TID will be traded as an OTC stock.
164
Post by Fullblaston Feb 02, 2014 8:37pm

It's tough, but we need to keep our heads cool

Like everybody else, I don't like this news. I would have prefered to see a return to normal activities, increased cash flow, UT up, etc. But it's nothing of that sort, It's chapter 11 ...more  
214
Comment by pennywyse2on Feb 02, 2014 8:29pm

RE:RE:RE:I rolled the dice

The fact that the lenders will make a DIP facility of $35mm available indicates that they believe there is some surplus of value in the company over and above the pre filing debt level. Hopefully the ...more  
158
Discussion
Comment by khaledbon Feb 02, 2014 8:00pm

RE:RE:I rolled the dice

We have to admit that we lost everything .... They will continue to borrow till the debt exceed assets. All what i hope now is that they decide to go straight to a liquidation and find buyer for the ...more  
133
Discussion
Comment by sailpgdon Feb 02, 2014 7:46pm

RE:I rolled the dice

Everyone needs to stop panicking. You all are acting like grown children. Debt and assets combined are a total of $500 million. We do not know the exact ratio yet. Bankruptcy could be a good thing for ...more  
181
Discussion
Post by RiskyBiz39on Feb 02, 2014 7:45pm

SO MUCH FOR SEEKING ALPHA

WHAT A JOKE THAT DUDE TURNED OUT TO BE,, ALL HIS BS
153
Post by RiskyBiz39on Feb 02, 2014 7:28pm

General Board question. What was the 2012 deal all about?

Anyone know what was filed in late 2012 in Houston? Confused what that inferes .  What a crock on S.  There are reasons why a company trades in the pennies .  Like investing with bunch ...more  
173
Post by ninetiesgolferon Feb 02, 2014 7:13pm

I rolled the dice

Well, I wonder if I'll see any of my $10,000 investment again? I feel for those who are heavily invested.
187
Discussion
Post by Fullblaston Feb 02, 2014 7:05pm

Confirmation of doc filing for Chapter 11

See here : https://www.deb.uscourts.gov/recently-filed-chapter-1115s
164
Comment by doggonemadon Feb 02, 2014 7:05pm

RE:RE:RE:RE:RE:Tuscany International Files Bankruptcy on Low Rig Use

where does the other $300MM of debt come from?  I mean it is not like you can overlook $300MM.
142
Discussion
Post by RonJadleron Feb 02, 2014 7:04pm

Bloomberg article..

https://www.bloomberg.com/news/2014-02-02/tuscany-international-files-bankruptcy-on-low-rig-use.html
152
Comment by Fullblaston Feb 02, 2014 7:04pm

RE:RE:RE:RE:RE:Tuscany International Files Bankruptcy on Low Rig Use

Kaledb, 500M$ is total of debt and assets. Assets are more than debt in TID's case.
118
Discussion
Comment by khaledbon Feb 02, 2014 7:01pm

RE:RE:RE:RE:Tuscany International Files Bankruptcy on Low Rig Use

Company listed assets and debt of as much as $500 million each in Chapter 11 ......so Debt =$500m and Assets=$500m  .... so we left with nothing ??? am i right ? Chapter 11 :  If the ...more  
123
Discussion
Comment by doggonemadon Feb 02, 2014 6:51pm

RE:Tuscany International Files Bankruptcy on Low Rig Use

can anybody confirm these news?  i have googled the net but cannot find anything regarding this.
115
Discussion
Post by Fullblaston Feb 02, 2014 6:50pm

Chapter 11, the basics

You may all want to read this : https://en.wikipedia.org/wiki/Chapter_11,_Title_11,_United_States_Code?oldid=294785285
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