Tuscany International Drilling Inc T.TID

The things as I see it...

[contragalo]

Debt is crushing Tuscany but management is not giving up. Utilization rates should improve sequentially in Q3 and Q4, there is a good chance to reach +80% utilization rate by end of Q4. If Tuscany is lucky and can collect at least one of the three troubled accounts receivable (Ecuador is most probable, HRT and Gabon would have to wait until 2014), gets a new refinancing from lenders and put at least one of the HRT rigs to work (the market to sell them is tough, we shouldn´t expect a transaction in the near future), the stock price should rerate and we could see considerable higher levels, maybe in the low 0.20s. Greg Colman (NBF) wrote yesterday a report where he is modeling a 20 M$ in equity funding in Q4. I personally believe that this is speculation from him, but Colman knows well the company and he doesn’t  see how Tuscany is going to generate organic cash flow to meet its financial needs in the short term. A new refinancing will kick the can ahead the road and provide a much needed breathing room for Tuscany to pursue other alternatives to raise cash (selling assets, collecting accounts receivables, improving cash flow from operations or advancing in strategic alternatives like a merger, a strategic partner or making a deal with a private equity firm). There is no cash in the coffers, but under the circumstances management has done a pretty good job putting the new contracted rigs to work. The three most important things to follow are the refinancing, collection of Ecuador receivable and the improvement in utilization rate.

[veronikagermany]

contragalo, Why do you give so much credit to the "analysts" ? They are the last ones who can claim that they are correct. They  have become ridiculous  in many  many  cases in Wall st.  and their projections are  very  often  far  from   reality. The  analysts  are  the  jokes  of the  financial  

[contragalo]

Did you read that I think the the equity funding was a speculation from the analyst?. And don´t discredited so fast the opinion of all analysts, Greg Colman knows very well the company and have a very precise idea on how things really are. Have you ever talked directly to a good analyst like Colman? If you want to be objective you shouldn´t discredit anyone who has a different opinion

[veronikagermany]

contragalo, it is very easy  to check out  Colman's  previous  picks  and  how  much  he  has  failed  with  his  previous  picks.  I  am  sure  you  can  find  it.  Please  do  it   first  before  you  praise him  publicly  next  time.... A

[michelleb33]

i agree with Contra. we all probably should of sold at 20 cents.

[michelleb33]

Well the asks are getting quite big now. Looks like we are going back to single digits. Right on Walter