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Seeking Alpha changes their opinion on DRYS every other day. I value their opinion with a grain of salt.
Holiday weekend coming up. Traditionally a slow trading day the day before.
I've never seen a stock, on a daily basis, trade the way DRYS trades.
News! DryShips Inc. Announces Ocean Rig UDW Inc.'s One Year Extension of the Ocean Rig Poseidon Contract and a New Contract for the Ocean Rig Olympia
9:02 am ET May 18, 2015 (Market Wire)
DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc. (''Ocean Rig''), of off-shore deepwater drilling services, announced today that in connection with the previously announced Omnibus Agreement with ENI Angola S.p.A (hereafter referred to as "ENI"), all closing conditions including approvals by national authorities and signing of definitive documentation have been satisfied.
As a result Ocean Rig has extended the contract for the drillship Ocean Rig Poseidon for a further one year until the second quarter of 2017 with total contract backlog now standing at about $367 million. In addition, Ocean Rig has entered into a new contract for the drillship Ocean Rig Olympia to drill offshore Angola commencing in the third quarter of 2015 for a minimum of 8 months with a total contract backlog of about $91 million.
Right after the close there was a 100,000 share buy followed by a 50,000 share buy.
I received the proxy email yesterday morning before the market opened and we were up yesterday too. Maybe it won't be as bad as everyone thinks.
I'm surprised there was never a board made for this stock, especially with it's relationship to DRYS.
I wouldn't hold my breathe waiting for this to hit the 50's.
Nice, we broke thru .75, now we need hold above there.
BDI +11
Hoping to see some decent gains in the next few days due to the rise in the share price of ORIG and the rising price of oil.
Amazing....Just amazing....
I'm more than ready.
You really think rising gold prices is going to bring this stock back to life??
Wow, this scam is still trading? Figured the SEC would have closed them down by now.
Net-Man, what's your take on the tanker sale?
DryShips Inc. Announces Agreements to Sell Its Tanker Fleet
4:02 pm ET March 30, 2015
DryShips Inc. (NASDAQ: DRYS) (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, announced today that it has entered into firm sales agreements with entities controlled by the Company's Chairman and Chief Executive Officer, George Economou, to sell its four Suezmax tankers, Vilamoura, Lipari, Petalidi and Bordeira, for an en-bloc sales price of $245 million. In addition, it has entered into agreements with entities controlled by Mr. Economou to potentially sell its six Aframax tankers, Belmar, Calida, Alicante, Mareta, Saga and Daytona. The agreements to sell the Aframax fleet are not effective until the purchaser confirms his unconditional acceptance latest by June 30, 2015.
Under the terms of the firm sales agreements on the four Suezmax tankers, the purchasers will pay upfront 20% to DryShips and the balance purchase price will be due on delivery which will be between July 1, 2015 and October 31, 2015, at the Company's option.
Under the terms of the agreements on the six Aframax tankers, the purchasers could potentially acquire these tankers for an en-bloc sales price of $291 million, as long as they confirm their unconditional acceptance by June 30, 2015. Other than the sales price, all other material terms and conditions of this potential transaction mirror the terms and conditions on the sale of the four Suezmax tankers, including a 20% upfront payment to DryShips.
Ziad Nakhleh, Chief Financial Officer of the Company, commented:
"We are pleased to announce the sales of our four Suezmax tankers. Net of the repayment of associated secured bank debt, these transactions are expected to generate approximately $125 million in free cash which will be used to prepay an amount under our ABN AMRO Bridge Loan which has a balance of $185 million as of today, as well as for general corporate purposes. Furthermore, we are excited about the potential to sell our Aframax fleet. Assuming the confirmation of the purchasers by the due date, we expect these transactions will generate approximately an additional $150 million in free cash which could be potentially used to prepay any remaining outstanding amount under our ABN AMRO Bridge Loan and for other general corporate purposes.
"Ultimately, we believe the sale of the tankers as opposed to an initial public offering of our tanker fleet is the best way to immediately realize maximum value. These transactions increase our cash liquidity and we believe they should release the selling pressure on both DryShips and Ocean Rig share prices, as we demonstrate that DryShips has many options other than the sale of undervalued Ocean Rig shares.
"As far as governance is concerned, due process was followed due to the related-party nature of these transactions. The transactions were negotiated and approved by the Audit Committee which consists of only the independent members of the Board. Furthermore, the sales prices reflect the fair market value of the vessels based on third-party broker valuations.
"In agreeing to make the 20% advance payments (approximately $49 million for the 4 firm Suezmax sales) to DryShips rather than to retain a 10% deposit in a joint bank account which is the market standard, and by maintaining the flexibility to deliver the vessels to the purchasers forward, which enables DryShips to capitalize from today's strong spot charter rates, Mr. Economou has once again demonstrated his willingness to go the extra mile to support the best interests of DryShips. At the end of 2014, his personal $80 million equity investment as well as his personal guarantee of the ABN AMRO Bridge Loan, without which that transaction could not have been consummated, were crucial for DryShips. We look forward to his continued support for the benefit of all shareholders."
Gotta get past 2's first.
Not bashing. I was in this for a long time. I learned from my mistakes. I wouldn't buy this with your money.
I agree. It'll be back to no bid.
Stay tuned for the RS announcement.
I see we have a new pump and dump team in town.
Nice run-up right at the close. Hopefully it continues tomorrow.
BDI +9. Been positive the last few days. Hopefully a sign of things to come.
Looks like it's going to be after the close on WED. the 25th.
DryShips Inc. Announces Fourth Quarter 2014 Results Release Date, Conference Call and Webcast
Published: Feb 20, 2015 4:02 p.m. ET
ATHENS, GREECE, Feb 20, 2015 (Marketwired via COMTEX) -- DryShips Inc. DRYS, -0.01% (the "Company" or "DryShips"), a global provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., of off-shore contract drilling oil services, announced today that it will release its results for the fourth quarter 2014 after the market closes in New York on Wednesday, February 25, 2015.
DryShips' management team will host a conference call the following day on Thursday, February 26, 2015, at 9:00 a.m. EST to discuss the Company's financial results.
Conference Call details: Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1(866) 819-7111 (from the US), 0(800) 953-0329 (from the UK) or +(44) (0) 1452 542 301 (from outside the US). Please quote "DryShips."
A replay of the conference call will be available until Thursday, March 5, 2015. The United States replay number is 1(866) 247-4222; from the UK 0(800) 953-1533; the standard international replay number is (+44) (0) 1452 550 000 and the access code required for the replay is: 2133051#.
Slides and audio webcast: There will also be a simultaneous live webcast over the Internet, through the DryShips Inc. website (www.dryships.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
Should be sometime next week as per this earning report I found.
When DRYS reported 3rd quarter 2014 earnings of $0.03 per share, it met the consensus estimate of the 6 analysts covering the company.
The analyst's estimates ranged from a high of $0.07 to a low of $-0.01, with a median estimate of $0.06.
DRYS is expected to announce 4th quarter earnings the week of February 16, 2015.
Especially with zero volume over the last few days.
It sure got quiet in here.
.0002. Ouch.
Wow, what a POS this thing is.
Only way this will ever see .25 is with an RS.
I'm kinda hopin' for January.
Over 175 million shares on the ask now.
What exactly are we chasing here? Still over 150 mil on the ask.
Unfortunately, the next news from this company will probably be a R/S.
Big day on big volume. Oil down, BDI down, ORIG down yet DRYS soaring. Something big must be in the works here.
Only way the stock price is going up is when not if they do a reverse split.
Welcome back. You didn't miss much here.
Gonna be kinda hard to take out any MM with zero volume. Sad.