GREY:PRBEQ - Post by User
Post by
Sheperdon Jul 23, 2015 6:26pm
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Post# 23954540
COQ vs HERO
COQ vs HEROHERO trading at 0.14USD COQ 0.08CDN, HERO Mkt Cap 23M$USD COQ 20.3M$CDN
0.14USD = 3.1% of the new HERO share!!!!!!! post bankrupitcy
- JULY 17, Hercules Offshore (NASDAQ:HERO) says it has entered a restructuring agreement with senior creditors that will lead to a prepackaged reorganization plan or a chapter 11 bankruptcy filing within a few weeks.
- HERO says the agreement will convert ~$1.2B of debt to new common equity, and noteholders will backstop ~$450M of new debt financing to fully fund the remaining construction cost of the Hercules Highlander and provide additional liquidity to fund the company's operations.
- HERO's existing equity holders will see their stake reduced to 3.1%
- HERO only 5X COQ first quarter revenues...
- HERO selling cheap rigs and crash the daily rental rate, all good for COQ going into the drilling market , or low cost for CAPEX
COQ should be trading way over 1.00$ IMHO
- Hercules Offshore (NASDAQ:HERO): Q2 EPS of -$0.37 beats by $0.13.
- Revenue of $92.67M (-61.9% Y/Y) beats by $0.92M.