Tuscany International Drilling Inc T.TID

WRG paid $195 M for ISC

[iaminvestor]

WRG paid   $195M  including  debt   for  ISC.  

Excluding  $25 M  debt,  WRG   paid   $170M   for    ISC.

The  Stockholder  Equity  of   ISC  as  of  Q3  2012  was  $84 M.

Thus  WRG  paid  PBV=2  for   ISC.  

This  is  from  Reuters

 

https://www.reuters.com/article/2013/02/22/irocenergy-offer-idUSL4N0BM54820130222?type=companyNews&feedType=RSS&feedName=companyNews&rpc=43

 

TID has   Stockholder  Equity =  $365M   which  is  $1/share. If  an  acquiror  pays  PBV=2,  it  will  pay    $2/share.

 

Either  way,  the  safety  margins  from  the  current   buying   levels  are  HUGE.

The  market  is  HUGELY   INSANE   with  TID   current   valuation.

[peruchocanuck]

I would be very happy to  take $1/share as today....cash only please , no paper...thanks

[dbeaude]

I agree with you iaminvestor and here is why...... I compared Western Energy services to Tuscany. They actually are close to the same size from a rig and revenues point of view.   Company   Rigs    EV    MC    Net Debt    REV.    EBITDA   CF  EV/ FDS   BV

[RiskyBiz39]

I thought the first big payment was in June. Really do not understand the bond deal blowing up last year. They had a decent rating. Now there is no way to get that rating back with looming rig issues and principal payments do. Need a cash kick and sale of HRT rigs. If the news out of conference call sucks, then you very well could print .05.. The news will not be good. This could be the ending