Tuscany International Drilling Inc T.TID

Assets value?

[khaledb]

Do you know what is the TID's assets value ? is it 300 millions or more ?

[sailpgd]

Well, TID's bankruptcy filing stated that their assets and debt combined are $500 million. Since we know that their total debt is $202 million, can we not assume that their assets are worth $298 million?

[Fullblast]

That's my understanding Sailpgd. Assets are well above debt, market is picking up in South America, heli-rigs are being sold. That is why I am optimistic about TID emerging sucessfully from all this. Some people on this board see creditors/banks as evil in chapter 11 situations. Why this may true sometimes, it is not always the case and let's refrain from asserting that CS and others are

[RHertig]

In chapter 11 the company cannot sell the Heli rigs without the judges permission. If there is an agreement to sell then this is a prepackaged bankruptcy. Even still the judge will have to agree don't matter what TID or CS say.

[khaledb]

I don't know.... In Q1 2013 the total assets value was around 600 mill ...i don't think the M&P deal took 300 milli from that total.... Any ideas? ... In chapter 11 the estimation of 100 to 500 milli. Is it really combined or a range for each one liabilities and assets?.  

[khaledb]

Nine months ended September 30 - 2013 Total assets                480,766 https://www.marketwired.com/press-release/tuscany-international-drilling-inc-announces-sale-two-colombian-rigs-caroil-africa-financial-tsx-tid-1852430.htm

[doggonemad]

Does anybody now if we are going to get Q4 2013 financials released under bankruptcy protection an a conference call with investors?  Anyone.

[pennywyse2]

RE Q4 2013 Financials. They are still a reporting issuer so they are required to file financials. Might be  a bit late though.