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SECURITIES EXCHANGE ACT OF 1934
Release No. 90854 / January 5, 2021
ADMINISTRATIVE PROCEEDING
File No. 3-19864
10/1/24 - 1/5/21 =1,365 days
Only to circle back to arbitration
Depending on the election?
Core Scientific boosts stock with mega AI hosting deal
Core Scientific (NASDAQ:CORZ) is becoming a major player in AI hosting after signing a 12-year contract with CoreWeave. Brokerage Canaccord initiated coverage of the stock with a buy rating and a $16 price target, driven by the transformative deal. Canaccord highlighted AI revenue growth, better cash flow, and future acquisitions. The company also maintains 230 MW of capacity for Bitcoin mining, in addition to the 500 MW redirected for AI. Core Scientific’s stock rose 4% during Monday’s trading.
the plot Thickens:
"Sunken superyacht believed to contain watertight safes with sensitive intelligence data"
https://www.msn.com/en-us/news/world/sunken-superyacht-believed-to-contain-watertight-safes-with-sensitive-intelligence-data/ar-AA1qWTyM?ocid=hpmsn&cvid=0d3061dc32b34aa8a350ef508ce37da7&ei=16
another million 5 purchase for Perestroika
Transocean LTD (RIG): The Best US Stock to Buy Under $5 Now
https://finance.yahoo.com/news/transocean-ltd-rig-best-us-163527035.html
This is fantasy:
Perhaps you can get Gemini to produce all the old 10k/10Q's need to satisfy the sec.
These responses are not even worth the KCals burned to type them.
This is dead. locked in litigation and bleeding whatever resources they have.
type that into Gemini and see what you get
Sorry unknown trials not trails
unknown trails and secret deals with no 8K's and or 10K's/10Q's
Revenue that is being held in a foreign country for a US company that has not shown up on any 10Q or 10K? I don't know what to say about that. SMH
there is no escrowed money at vcsy. The only revenue comes from now
I would say the only money coming into firm is through NOW and I would be surprised if net income was positive
It would be nice to know exactly how much money they are making and how it is allocated. i.e. how much to legal expenses. How much to salaries and how much to being relisted on an exchange. Also how they are prioritized.
I've owned shares and followed this thing for quite a while, and it seems like the same errors and miscalculations occur repeatedly. Getting bogged down in lengthy legal proceedings. Bleeding resources isn't a winning strategy
Time and money right down the blow hole. Have they set a new trial date or does it go to arbitration?
I have zero faith in those guys in charge to get this anywhere other than bankruptcy.
I see Wade Was able to get a new trial. So, I guess this lunacy continues for another couple of years. What a joke. Are people still getting paid to run this thing. Those guys on that Chat site must all be on Xanax by now
"STEINHAUSEN, Switzerland, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced that Reliance Industries Limited awarded a binding Letter of Award for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee. The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029."
"A federal court has thrown out key Endangered Species Act (ESA) analyses of oil and gas operations in the Gulf of Mexico, which will be vacated as of Dec. 20, 2024. The United States District Court for the District of Maryland ruled, in a lawsuit brought by environmental groups, that the National Marine Fisheries Service (NMFS) "underestimated the risk and harms of oil spills to protected species." The ruling creates uncertainty for oil and gas operations while NMFS completes a new biological opinion, as ordered by the Court."
https://www.hklaw.com/en/insights/publications/2024/08/court-strikes-down-key-endangered-species-act-opinion
selling two idle pieces of equipment for 342 million, Applied to debt. My understanding is it will not affect cash flow but will show on Income statement
"Namibia Plans to Become the Fifth Largest Oil Producer in Africa"
https://oilprice.com/Latest-Energy-News/World-News/Namibia-Plans-to-Become-the-Fifth-Largest-Oil-Producer-in-Africa.html
from conference call:
"Nigeria is expected to acquire four rigs, two more than are currently in the region. In Angola, there are seven floaters operating, and we expect this level of demand to be sustained. Ghana, Ivory Coast and Namibia could also add to the rig demand in 2025 and 2026 with four programs expected to commence in this time frame. If all programs proceed as expected, three drillships could be required from outside of these countries."
"OMV finds gas in deepwater offshore mid-Norway, eyes tieback to Aasta Hansteen spar"
https://www.offshore-mag.com/drilling-completion/article/55135517/omv-finds-gas-in-deepwater-offshore-mid-norway-eyes-tieback-to-assta-hansteen-spar
let the conspiracy theories begin:
"British tech entrepreneur Mike Lynch missing after yacht sinks off Sicily"
https://www.washingtonpost.com/world/2024/08/19/british-yacht-sinks-off-sicily/
"Africa Oil issues updates on its E&P activities offshore Africa"
https://www.offshore-mag.com/regional-reports/africa/article/55133372/africa-oil-corp-totalenergies-assessing-high-impact-drilling-opportunities-south-of-venus-oil-giant-offshore-namibia
"Report: ‘Big 3 offshore drillers’ reporting increasing day rates, ‘robust’ outlook"
https://www.offshore-mag.com/rigs/article/55131450/report-big-3-offshore-drillers-reporting-increasing-day-rates-robust-outlook
That area has yet to be tapped and so Total will have a need for rigs. So depending on utilization rate (90%+) they may need to pull from cold storage
https://finance.yahoo.com/news/totalenergies-tte-signs-exploration-deal-124900662.html
I have no idea why they would issue a separate form 4"s for each entity. I may be some type of Swiss idiosyncrasy. Sort of under the account name of Perestroika but with Mohn being the person named to trade it and an officer of the company. Insider cow always shows it as 3 separate buys when they are purchased.
http://www.insidercow.com/
There is Perestroika Mohn own.
Perestroika (Cyprus) Mohn has controlling interest in
Then his own personal holdings
Each has around 89.5 Million shares
P.S. I am watching a patch of water of the coast of Equitorial west African That TOTAL has a financial interest in. I see Rig has a floater contracted by Total of Angola
World Oil and Offshore Mag Post info about this on "X"
I'm not sure how this thing is set up.
There is:
Erestroika. Perestroika and Frederik W. Mohn holdings all listed as 10% owners with around 89.5 million shares. I don't know if these are three separate entities or not
"Norway Greenlights Equinor’s Drilling Ops in North Sea"
https://www.oedigital.com/news/515818-norway-greenlights-equinor-s-drilling-ops-in-north-sea
This article is a little dated, but it does reference rig counts and offshore "Total" action in Angola:
"TotalEnergies is leading the packThe French major has imposed itself as the most active operator offshore Africa this year, with a total of eight rigs mobilised throughout 2023, including three in Angola, two in Nigeria, two in Namibia, and one in West Africa whose destination is yet to be disclosed.The company’s Namibian campaign represents $300 million of investment to appraise its Venus discovery, drill the Nara prospect, and execute drill stem tests (DSTs).In Nigeria, TotalEnergies is also drilling the Ntokon Central shallow water prospect on OML 102, but more importantly executing a multi-well deep-water campaign on its Egina and Akpo hubs within OML 130. Egina is notably experiencing a rapid production decline which the drilling campaign seeks to address. Up to nine wells are scheduled on both Egina and Akpo, including potential exploratory drilling of nearby prospects."
https://www.energyconnects.com/opinion/features/2023/june/africa-s-offshore-rigs-count-climbs-to-new-highs-amidst-drilling-frenzy/
another 2 million shares for Perestroika (Cyprus) Ltd
I wonder if they pull one out of cold stack. Will it generate an 8K?
from conference call:
"With these contracts, our working fleet is more than 90% committed through the end of 2025. And based upon advanced discussions with our customers and reflecting LOIs and strong verbal commitments, we believe that aside from some small activity gaps, which could arise in our customer drilling programs, our fleet that is currently working could soon be completely booked well into 2026. As such, our customers may soon need to consider financing the reactivation of cold stacked assets to meet their future program requirements. We are certainly pleased with these new contract awards, some of which have been a long time in the making as they demonstrate materially increasing day rates and linked terms, which combined reinforce our confidence in the strength and longevity of the offshore drilling market."
"We believe it is likely the entire West Africa region will require at least four additional deepwater rigs from 2026 onwards, which could possibly require the reactivation of some currently cold stacked assets. Lastly, for the ultra-deepwater markets in India, we anticipate the award of Reliance's tender in the coming weeks and continue-the KG1 is well-placed to secure this program. Moving now to the high-specification harsh environment market, assuming outstanding options are exercised, the Transocean fleet is effectively sold out through 2025. Looking ahead, we believe Norway will be undersupplied by two rigs in 2026."
8/2/2024
It's hard to say exactly what's going on here. Brent NS oct future just went negative and there is a lot of talk (business channels) about the faint smell of recession. however, your guess is as good as mine
P.S. I doubt the conference call all that inspiring
Don't know I always wait for the transcript.
STEINHAUSEN, Switzerland, July 31, 2024 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a 1,095-day contract for the Deepwater Invictus with bp in the U.S. Gulf of Mexico. The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $531 million in backlog, excluding additional services and a mobilization fee
correction an increase of 24.88 million not 14.88
Short % as of 7/15/2024 was 24.78%. An increase of 14.88 million with an increase of 8.43 days to cover