Tuscany International Drilling Inc T.TID

Forbearance

[doggonemad]

The only thing I am having a hard time to get around is the length of the Forbearance Agreement.  It is extremely short.  Most forbearance agreements are for at least 45 days.  I think:

1.  they were either not able to make the payment on time or meet their financial ratios, and are expecting funds soon to complete the payment and meet financial rations, or

2.  they realize at last minute that they could not make payment and the lenders gave them the week to file for chapter 11

Anyone?

[WatchStockx]

Perhasp it has somthing to do with the HRT arbitration next week in Brazil?

[khaledb]

I don't think HRT arbitation will be next week in Brazil

[WatchStockx]

Are you sure? Why don't you think so?

[khaledb]

Post your source ... WatchStockx ....you created your profile today and your first post was that HRT arbitration in next week ... isn't strange little bit ????

[CDNOil]

No idea when HRT arbitration will take place, but according to a Tuscany presentation they were expecting it in Q4 2013 or Q1 2014. It would be really good timing... HRT • We expect a ruling on the HRT arbitration – Q4 2013/Q1 2014  (In arbitration with HRT for $33 million)

[khaledb]

so it's time ... Only HRT case could give a second life to TID at least for this year.

[WatchStockx]

I wonder what a postisive outcome of the HRT Arbitration would do (if anything) for the current price levels? https://tuscanydrilling.com/html/investor_relations/documents/Tuscany_Q3-2013_FINAL-web-Nov22.pdf  Tuscany International Drilling Inc. 2013 Third Quarterly Report Management’s Discussion and Analysis:   In Brazil, the Company was working for a customer, HRT, who, in June

[khaledb]

Still waiting for source of information about HRT arbitration next week :P

[WatchStockx]

Sorry, Don't have a source, just wondering what the marketr might make of a postivie outcome of the arbitration. 

[doggonemad]

I notice that TD is doing a lot of buying.

[rivergreen]

I would say RBC was the biggest buyer by far, I think they must have taken over 3/4s of the shares today, and one buyer with RBC picked up over 3 mil in gulp!

[hegemonicoblivion]

Perhaps, short covering... Perhaps, someone sees value. Your pick.....

[doggonemad]

are you allowed to short penny stocks?

[rivergreen]

I don't think you can Dog.

[justsomeguytrading]

IMHO it could be either of those two scenario's. I was speaking with an associate today who worked for an energy company who went through the same process.  His experience was that the creditors enter into a forebearance agreement with the perspective that they now have a seat a the table with management and can work to influence decisions about cash flow, asset sales, AR etc... they can