Post by
doggonemad on Jan 30, 2014 12:23pm
questions
Let's see:
1. they trade the stock in the morning of Friday. stock doesn't trade all day. then they do the NR in the evening. Should not they just have left the stock to trade on Friday and do the NR in the evening. It's not like the stock could go any lower with or without the NR.
2. they do this huge, complicated deal disposing of their african subsidiary only to go under chapter 11 now. why not just go under chapter 11 on September when they missed their first payment.
3. CS would pull the plug now knowning that there is a need for 40 rigs by PetroAmazonas in Ecuador.
4. Walter said at last conference call that they were in serious discussions to either sell or put to work at least one of the Heli Rigs.
5. I have been a banker, no bank wants to get stuck with 27 rigs in SA. they would rather work things out and get paid in the long term.
things just don't make sense.