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Re: pennyplayer777 post# 474

Thursday, 09/03/2015 5:33:11 PM

Thursday, September 03, 2015 5:33:11 PM

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There is no way out except BK, not sure how they are even going to pay anything. Some of their other contracts are ending soon. No work for rigs, right now...

Contract made up more than 60 percent of revenue backlog
Oil servicer has more than $2.5 billion of outstanding debt

Bonds of Vantage Drilling Co. dropped as Petroleo Brasileiro SA terminated a $1.7 billion drill deal amid a bribery investigation.


The Petrobras contract represented a majority of Vantage’s revenue backlog and its termination may impact the company’s ability to service debt, according to Bloomberg Intelligence analyst Andrew Cosgrove.

Everything I say and write is my opinion and my opinion only. Do your own due diligence when investing

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