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Popped in to see how things have been going, haven't spent much time doing any research!! What have you found so far? I got word yesterday that Vantage my be buying a hull for an FPSO, have you heard anything about that?
I don't see the Europe stuff being an issue! It's just a matter of time before this goes up and continues that direction. I have bought another wad this morning! Hoping to get another 5 to 10k before it leaves these levels!! There are lots of rigs out there getting rates higher than this! It's all about supply and demand and deepwater is in great demand! These areas are unexplored, so the chance of finding huge fields are great!! So the exploration companies are wanting to find these, as most fields in the shallower water are already known and being developed as needed!!! There is so much water to cover and if you look at the globe, they could use every rig in the world and it would take another 20 to 30 years before they could say that they have covered the majority of it!! As far as I am concerned deepwater is the place to be and it will continue to be that way for a long time to come!! I am making this one a long term investment!!
Now, our jackups are a different story, if they want them to continue working, they may have to reduce the rates a bit to be competitive, however, with the news you are talking about, the exploration company may pay more for a better service, the old saying, you get what you pay for!! Personally, I would like to see the jack up demand increase, suring up a better dayrate and future for our rigs. Saying that, I would like for Vantage to be more focused on the deepwater operations, even go as far as using the revenues to purchase the rigs we are managing. Get set up strongly in deepwater. Although, our jackups are generating the most revenue right now, one ultradeepwater drillship can make what it takes 3 jackups to do!! Can't wait for the drillship to come out!!
Sabong
jb,
We have to look at the situation first. This is a one-off incident, something that hasn't ever occured before. What people don't understand is that this industry has strict standards set in place so that things of this nature do not occur. The irony of it is that these two companies are well known for their strict safety standards and in fact set the standard in the industry by spending billions on training and equipment to make sure the job is done right and without incident to people or the environment. So, what impact has it had thus far? It has made companies go from double checking to triple checking everything. Like I said before, the safety standard has always been there, now this has only reinforced it! We had an auditor come out and do a check of our equipment from our client, he couldn't find anything because we are already doing it the way it should be done. I personally don't see why people have blamed MMS! They have very strict standards to abide by! I know that to be a fact because I've seen the inspection myself, everything has to be right, if it isn't, you have a short time to fix it or your out of business. As for Vantage, they are working their rigs in areas outside of the US but that doesn't mean that they will let their guard down. Every company has to have a high set of operating standards and they will also have to comply with their clients standards as well. When you put the two together, it's like having a double barrier of protection. If they don't have it, they won't get work, period! I don't expect there to be many changes made to how they are operating now, as the standards are already over the roof!! Personally, I believe the oil companies are waiting for the well to be shut in and that BOP stack to come to surface. When that happens, then the truth can be known and then there may be some changes made to ensure that whatever happened, doesn't happen again!
I would agree with your assessment of VTG, it has been holding well and if you look back and compare to previous, it shows the same thing. It was only slightly effected by the drop in oil price previously. I personally believe that the PPS is showing a true reflection of what the sentiment is of the shareholders, that they are confident in their investment. I was buying up from 1.40 to 1.70, expecting us to set a new high since the crash, then this Euro stuff and the incident happened all in this time frame. Still looking to load up once it levels out, there's only one way for this to go and that is up every single time another one of those rigs pull out of the shipyard and start generating revenue. And that will be taking place very soon, as the Platinum Explorer is close to completion and they are already crewing up the Sea Dragon I!! I know that bit of information because two of our guys are going to work on that rig!! The Platinum will be going to work for ONGC and they have alot of work going on here in India! The SeaDragon will be working for PEMEX, the mexican oil company. One way of looking at this is to compare it to airlines. One plane crashes, they do their best to find the problem and then take action to ensure that the same thing doesn't happen again. But all the while, planes are still flying and people are still traveling, maybe not the same airline, but traveling all the same! Until a better alternative to oil is commercially viable, crude is what makes the world run!! And Vantage is poised to take advantage of it!! Oh, 1.30 to 1.31 seems to be a good support, I'll be grabbing some their if it gets that far!! If it goes any further, that will be a bonus! All IMHO of course!!! GLTY
Sabong
You are correct in your calculation, however, you will need to deduct the cost of operating the rig which will be higher than that of a jackup, roughly 350k per month. That day rate is also subject to the type of operation going on each day. The majority of the days will be at 100% dayrate, however, if the rig is moving or doing an operation which doesn't require certain equipment to be used, then they will get 98% of the operating rate. As for the management fees, I would tag on another 15% for that versus a jackup as the dayrate for personnel operating these are much higher. Also, another thing to calculate in would be a downtime percentage, roughly 10% to 15% or more depending on how well they commission the equipment before going to work. Hopefully everything works right straight out of the shipyard, then it will be nothing but revenues from there. I was on one rig that we took out of the shipyard, we were on downtime for a whole month in the beginning due to problems with the BOPs. So what I am trying to say is, they may have to work out some bugs when starting operations which is to be expected as the equipment will be put under a work out which it did not see in the shipyard. Drilling conditions putting everything under a big load, that's when you know whether you have any problems or not. Anyway, I hope I have helped answering some of your questions.
Sabong
I personally believe that this debt could be good for them at the moment! If everything was all paid for and revenues coming in hand over fist, the large contractors would just jump in and buy them out! I would rather see a climb in the markets and our pps breaking $8 before that happens! As for SU HSIN-CHI, everything is for sale at the right price!! Especially after seeing all the news about the Horizon, he may not want that type of liability on his books! All IMHO of course!
Holy smokes batman! What happened here? Been looking good all day and then a downward spike, they must be trying to shake shares loose!!! Well, they ain't gettin mine!! I must say we sure have a strong group here!! I feel very proud to be part of the team and contributing to the effort!! However, I sure wish they would let this thing breathe, this dilution everyday is getting ridiculous!! Wouldn't it make more sense to let the PPS rise, it would take less shares to make the same amount!! Oh well! Hopefully they'll run out sooner or later!! Looks like I missed an opportunity for some cheapies, didn't have a chance to get away while at work! Have a good weekend everybody!!
Sabong, long and strong!!
A person only loses when they hit the sell button, till then they are only seeing the fluctuation of the share price, which is common with any stock! Why would a person feel sorry for someone else taking a loss, no one told them to hit the sell button? Everyone has an entry and exist point, we all do! I have not taken any losses with this stock, why? Because I have held every single one and if everyone else were doing the same, whoa!! We would be a heck of a lot higher than we are at the moment!! I liked what the poster said yesterday, if everyone grabbed 500 dollars worth, this would knock the price up!! However, that would have to be a group you could trust! Fact is, hardly anyone here knows whether they could trust the other or not!! If that was going to be played, then I am sure that there would be a few who would bail out and claimed they held!! It would be interesting to see a play like that, though! Knock the MMs up the ladder a bunch of notches!! LOL!! I'm ready, anybody else want to play?
Sabong
If that is the case, why wouldn't he just unload them all at once and be done with it rather than doing it daily? If he is doing that, he is a fool by not letting it ride up, more money, less shares, any fool knows that!
Doesn't look like it broke it to me!!
So you were able to listen to the call? I am at work, wasn't able to catch it! Will they be posting it?
Sounds great to me! Will be stocking up on these as I believe we want see these levels much longer! The PE will be out soon and when they get their first revenues from that, there's no telling where we will go from there!
I am looking forward to the results as well! I picked up a few more on this downturn, however, I hope that it levels off! If it doesn't, well, that will be another opportunity to get more!! I was really expecting to hit $2, then the Horizon incident! Now oil is dropping in price, that in itself will be interesting to watch and see how it affects us!! AIMHO of course!
LOL!! Yep, maybe I need a few drops of visine to clear things up!! Could be the connection as well, or could have been me adjusting my tint, LOL!! Oh well, sooner or later it will happen! I like the mood of the board, you can tell who's worried and who ain't about this BEHL baby!!
I'll have one of those!! One of my favorite beers!!! Drink it while watching this algae grow!! LOL!!
I would like to disagree, I think it is turning a shade of brown, least dat's what it looks like on my screen!!
Thanks Silver!
Now I can tell my wife and my doctor that drinking beer is healthy for ya!! I ran out of excuses and this came in the nick of time!! LOL!!
You got that right! Long and strong!
It's already down!! It will either go up or non existant!!
Yep, be patient and wait!! She'll go sooner or later and then drop it! He'll put out news sooner or later that will make it jump!!!
Thanks for sharing Mr. Behl Gates! I agree with you, you are that far away, imagine being all the way in the Philippines, LOL!! Go BEHL Team!
Nothing stops maggco from taking a tour! I have not heard of anyone being refused from visiting the place! And to boot, everyone, it seems, have been welcomed with open arms!
Mr. Go, thanks for sharing with us!
Could have hit the stop/loss, IMO!
Steve, not arguing the impact of this, all I was trying to do was state facts. As I said before, I work in this industry and I know for a fact that it can be done safely and without harm to the enviroment. However, human error does play a role in events such as this. Planes crash, we don't stop flying, we figure out what went wrong and ensure that it doesn't happen again. And yet, they still crash. Same goes for drilling, everyone is against it, however, almost everything we use is possible by oil from the ground. Until we can replace the oil with algae oil, we have to deal with it and do it in the safest manner possible. Either that or start riding bikes and row boats and forget about planes, trains, ships, plastics and the list goes on! I can assure you it is performed in a safe manner day in and day out and every precaution is taken to make sure that incidents like this don't happen! By the way, I would appreciate whoever deleted my post to PM me to explain why, since I was responding to the other post which was clearly not based on facts. Sure hope BEHL can get this going to the point we don't need to drill any more! AIMHO and through my own experience of course.
Sabong
Glad to see your back BigBake, sure been missing ya around here!! I wish my funds had cleared today, I would have grabbed more shares!! Working on the 13th person's shares now!! I like the way BEHL is staying current on PS. I would like to see that comment about unsolicited quotes removed from there as one other poster commented, at least remove the warning bit of it!! When someone sees that, it can make them turn away from a legitimate company! IMHO of course!
This is cool, how did you obtain that? Man, ya'll really do some DD around here!! So I take it I should mortage my home and invest it all here!
I would like to clear up a misunderstanding that some may have about oil, it doesn't just fuel the car, plane, trains!! It also makes the plastics we use everyday! BEHL could produce oil for the plastic business one day!
From the wilkopedia:
petrochemicals
Today most plastics are made from petrochemicals (crude oil and natural gas), although they can also be produced from corn and other biomasses. In manufacture from petrochemicals, refineries process crude oil to produce, first, fuels, such as gasoline, diesel, and a number of different lubricants. Then they spin off a wide variety of other petrochemicals. Some of these other petrochemicals are then used by chemical plants to make a wide variety of products such as fertilizers and plastic resins. Plastic resins are, in turn, used to produce many different types of plastic.
Other contributors added:
•The majority of what we know as plastic today is made from one major ingredient: oil. The same kind of oil that fuels our cars.
•There are many other types of polymer, both natural and synthetic: cellulose, starch, silicones, teflon, PVC, etc.
•Elementally, plastics can contain carbon (C), hydrogen (H), oxygen (O), but also nitrogen (N), chlorine (Cl), fluorine (F), silicon (Si), sulphur (S), and phosphorus (P). The term plastic merely refers to the property of being flexible but firm.
Take cellulose acetate--a very popular polymer, used mostly in thin films. It's made from cotton. Some rubbers are made from the sap of a tree. The plastic in your soda bottle is made in part from antifreeze. Silicones are made from sand. Vinyl is made from acetylene.
I really like http://pslc.ws, the Polymer Science Learning Center. Check that site out; they tell you how a lot of popular polymers are made. They wrote it for all grade levels, meaning parts of it are grade school stuff and others are high school stuff. But check it out anyway, because you'll learn a lot.
From Wikipedia
People experimented with plastics based on natural polymers for centuries. In the nineteenth century they discovered plastics based on chemically modified natural polymers: Charles Goodyear discovered vulcanization of rubber (1839) and Alexander Parkes, English inventor (1813-1890) created the earliest form of plastic in 1855. He mixed pyroxylin, a partially nitrated form of cellulose (cellulose is the major component of plant cell walls), with alcohol and camphor. This produced a hard but flexible transparent material, which he called "Parkesine." The first plastic based on a synthetic polymer was made from phenol and formaldehyde, with the first viable and cheap synthesis methods invented by Leo Hendrik Baekeland in 1909, the product being known as Bakelite. Subsequently poly(vinyl chloride), polystyrene, polyethylene (polyethene), polypropylene (polypropene), polyamides (nylons), polyesters, acrylics, silicones, polyurethanes were amongst the many varieties of plastics developed and have great commercial success.
I like the sound of dat!! The company borrows your money and then pays it back later with the option of borrowing again if needed! In turn, you get an increased PPS for your trouble!
At least we now know what happened to Mr. Go, but where the heck is Mr. Big Bake? Can anyone confirm that he is for sure on vacation? Sure hope he is alright!! Just transferred some funds, will be grabbing the 12th person's shares shortly, LOL!!!
I like numbers!! Here's another one! If we took the total O/S, 1 billion and divided by the number of share holders at present, 7283, that would equal to 137,306 shares per share holder! I have eleven people's shares right now!!! If they want them, THEY GONNA HAVE TO PAY A PRETTY PRICE FOR THEM!!! LOL!!
The only way to make your money back on this one is to short it, oh wait, it's as low as it can go now! I tried shorting it back when it was .0085, could get any, was going to try to make some of my losses back, yeah right!!! Dat didn't happen! Only loss and more loss!! How about a forward split, 1000 to 1, that'll fix it!!! Then reverse, dilute, repeat! Dat's been the history of this guy!! Watch for it! Not trying to be negative here, just seeing it like it is, sure hope I'm wrong!!IMHO of course!
How about adding both of the numbers, hundreds of thousands!! If you check the posts here about the previous companies this guy has ran, or should I say, ran down, you would see he has been doing this for years, seems to be getting better at it!! Should be reported to the SEC, but then again, I would imagine someone at some point, has already done that!!! IMHO of course.
Very true! However, I don't believe they are laughing about the others losses, I believe they are laughing because they had losses too and told everyone and people didn't listen, that's why they are laughing, IMHO of course.
Ouch!!!
Couldn't agree more, something should be done to this guy, just keeps taking people's money!! Got mine, least I didn't lose it all before bailing!! Lost 80% in a matter of a few days!! Another tax write off!!
And that ain't no bull!!!
I don't see BG on that list, thought he was going to be a speaker?
Yaaaaaasssssss!!! Just received my first In Touch Tuesday!!!
Looking at that picture GFB reminds me of a video game, Sim City! Wonder if they will add algae farms to that game? Thanks for the info!
Company filings should be coming out next week as well on pinksheets! I am sure there will be alot of interesting and much awaited information in it! Share structure, revenues, alot of questions will soon be answered! Will be a very interesting week indeed!!