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"Upon further review" I think (just a guess) it's Lakeshore trying to get something excluded from consideration. However, like you I'm not inclined to put up an extra 20 to find out. Perhaps it deals with Wade's past behavior or any judgements against him, but who knows for sure.
It would really be nice to get some clarification on this. It could be Lakeshore took too long to file their breach of contract suit. Only a guess.
you will have even more time if they rule in favor of Lakeshore. By throwing out NOW and VCSY's suit
To me it looks like they want something excluded (who knows what) because of the SoL. It's only speculation now. We will probably have to wait until 3/1 to find out
Someone will have to explain this one. I have no idea what is going on here.
"02/08/2023 MOTION - STRIKE
PETITIONER'S MOTION
Comment
PETITIONER'S MOTION TO STRIKE POST-HEARING BRIEF AND RESPONSE"
Granted on 2/16/2023 signed Judicial Officer
JONES, DIANNE
https://courtsportal.dallascounty.org/DALLASPROD/DocumentViewer/Embedded/--VNDFEFXKa3_thQ4C-2vUePYcH6hgTrjwcYrteqd08-8xV2AuRLC6imvYEJH-YmRlVlY5SB02BdvwE_LB0JpQ2?p=0
The BTC spot market will be open. It's open now. Currently 24.6
"Transocean Looks Primed for More Upside, but Be Patient
Traders should let the offshore drilling company's stock trade sideways for a bit longer before jumping in."
https://realmoney.thestreet.com/investing/stocks/transocean-looks-primed-for-more-upside-but-be-patient-16116184?puc=yahoo&cm_ven=YAHOO
"Bottom line strategy: Traders should let RIG trade sideways a bit longer before probing the long side. Risk to $6.40. My upside price targets are $9 and then $15."
BTC is currently at 23.9 and change in the spot market. hopefully we can punch through and stay above 24
Looks like BTC hit $25,241 in the spot market around 11:00
"Company agreed to transfer to GSR the stacked, ultra-deepwater drillship Ocean Rig Olympia, along with a nominal cash contribution, in exchange for a noncontrolling ownership interest in GSR. "
Looks like they bought a piece of GSR. (150-160 million). I assume this will be reflected in their 10K on 2/20
"Global Sea Mineral Resources NV (GSR) is a subsidiary of the DEME Group focused on the development of sustainable ocean mineral resources.
The Belgian dredging, environmental and marine engineering group DEME is an international market leader for complex marine engineering works. Building on more than 140 years of experience and know-how,"
https://www.deepsea-mining-alliance.com/en-gb/global-sea-mineral
I agree. However, relisting won't happen (IF at ALL) until after the suits. This seems to be the game plan.
This is fine but most of it is already posted on the FAQ's page. The issues at hand are:
Who is being sanctioned and why.
Who wants a bench trial and why
Who wants jury trial and why
" Why the Court should strike Defendant's jury demand and order this case to proceed as a bench trial"
"OPEC Raises World Oil Demand Forecast For 2023"
"OPEC has raised its world oil demand growth forecast for 2023 by 100,000 bpd, to 2.3 million bpd the organization said on Tuesday in its latest edition of the Monthly Oil Market Report.
The demand growth forecast calls for 400,000 bpd in growth from Organization for Economic Cooperation and Development (OECD) countries and 2 million bpd from non-OECD countries"
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Raises-World-Oil-Demand-Forecast-For-2023.html
The U.S. Will Be Dependent On Oil For Far More Than A Decade
https://oilprice.com/Energy/Energy-General/The-US-Will-Be-Dependent-On-Oil-For-Far-More-Than-A-Decade.html
It's an airborne fudge shop from Mackinac island.
"Big Oil’s Back In Fashion"
"The three biggest European oil and gas companies—BP, Shell, and Total Energies—all announced plans that involve a sort of return to their core business and an easing back on their transition plans. The move is subtle, it is far from a U-turn, but it is a pretty clear one."
https://oilprice.com/Energy/Crude-Oil/Big-Oils-Back-In-Fashion.html
do you have any idea who is making the motion for a bench trial as opposed to a trial by jury?
This is really a mess. There are defendants, codefendant and cross defendants. It's difficult to tell what motions are being made by whom. I don't even want to put in the effort to figure this S__t Storm out. Original filing date was, 5/2019. What a frustrating pile.
Don't ask me. I'm not involved in the suit. I have no idea why or what they are doing. It's all just speculation. I'm taking the tax loss and washing my hands of this thing. This is now my accountant's headache.
It looks like there is a hearing in L.A. today at 9 AM. So maybe we will get some clarification on the Suit/Motions
Fleet status report
This quarter’s report includes the following updates:
• Deepwater Corcovado – Awarded a four-year contract in Brazil at a current rate of $400,000 per
day, as adjusted for foreign currency exchange.
• Deepwater Orion – Awarded a three-year contract in Brazil at current rate of $417,000 per day, as
adjusted for foreign currency exchange.
• Dhirubhai Deepwater KG2 – Awarded a 910-day contract in Brazil at a current rate of $439,000 per
day, as adjusted for foreign currency exchange.
• Deepwater Invictus – Awarded a three-well contract in the U.S. Gulf of Mexico at $425,000 per day.
• Transocean Barents – Awarded a one-well contract in the U.K. North Sea at $310,000 per day.
• Transocean Norge – Certain previously disclosed options in Norway have been added to backlog at
current dayrates between $414,000 and $424,000 per day, as adjusted for foreign currency exchange.
• Development Driller III – Customer exercised a one-well option in Suriname at $360,000 per day.
• Deepwater Asgard – Customer exercised a one-well option in the U.S. Gulf of Mexico at $395,000
per day.
• Paul B. Loyd Jr. – Customer exercised an eight-well option in the U.K. North Sea at $175,000 per day
The aggregate incremental backlog associated with these fixtures is approximately $1.9 billion. As of
February 9, the company’s total backlog is approximately $8.5 billion
that's it, just about Wade and the seizure of the MRC trust.
I'm not sure if the lawyer is not tied up in both cases. It's kind of convoluted after several years, tough to ferret out all the players and issues.
They may be waiting to see the results from that S__T show in Texas against MRC (#CC-22-04770-D) to finish. I see a lot of activity there. Like you said it began with a suit. It may end with one.
Continuance filed by NOW?
Your guess on this is as good as mine as to what the hell is going on here
"Climate Crisis Tide Turns For Big Oil"
"Perhaps the first highly public retaliatory shot came in 2021 when the chief executive of Liberty Energy made a YouTube video attacking North Face for its refusal to sell branded apparel to an oil company because of what it did. In the video, Chris Wright accused North Face of hypocrisy, noting the fact that the synthetic fibers they used in their products were a product of the oil industry.
The video made quite a splash at the time, with North Face’s defense coming down to an admission that associating with an oil company would make it look bad and a promise to make all its products recyclable by 2030."
https://oilprice.com/Energy/Energy-General/Climate-Crisis-Tide-Turns-For-Big-Oil.html
When you are not inside the suit it is difficult to interpret what's happening
We shall see in 20 days. If it's not postponed for another year
02/03/2023 ORDER - GRANTING (GENERAL ORDER FOR MISC. DOCUMENTS)
ORDER - GRANTING (GENERAL ORDER FOR MISC. DOCUMENTS)
Comment
BILL OF REVIEW
"Transocean RIG announced recently that one of its ultra-deepwater drillships, the "Dhirubhai Deepwater KG2", has been awarded a 910-day contract by a national oil company in Brazil for offshore drilling operations.
According to Transocean, the contract has an estimated backlog of $392 million, resulting in a daily rate of around $430,000 ($392 million divided by 910 days)"
https://finance.yahoo.com/news/transocean-rig-wins-910-day-131301817.html
P.S. https://www.barchart.com/story/news/13937651/chart-of-the-day-transocean-drill-baby-drill
I guess Luiz has never heard of a W-2 or a 1099
Very good question. They should have some kind of "Business Plan"
Maybe this can help:
https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan
P.S. why didn't someone on the management team sign that letter
The letter is almost meaningless. This board is dominated f__ls. I'm out of this mess and cede the field to the ?'s.
A little vague. It would be nice to hear about finances, and relisting. A little less about their tireless efforts and D&O renewals.
P.S. If they are just now clearing up the rent issue, we are a long way away from stability.
Also, thanks for posting it at least it's something.
A little thin but something factual not crazy speculation.
Also, where is this located on the web site?
"What if Wade's "downfall" and "trial" were part of the master plan all along"
Yep, a master plan. Unbelievable.
"Coinbase shares surged after a Manhattan federal judge dismissed a class-action suit against the crypto exchange."
https://www.cnbc.com/2023/02/02/coinbase-stock-jumps-after-federal-securities-suit-dismissed.html
For me it is an annoyance. I wish to be rid of. A mill stone that restricts my ability to TOA accounts to other brokerage firms.
maybe for you
I'm afraid you're right. Maybe even too optimistic.
Wade's shares are gone. Give us a statement on relisting. Either up or down
Bottom Line:
"Since the beginning of the year, Transocean has made great progress as the company replenished liquidity and extended near-term debt maturities at reasonable terms while bagging another high-margin drillship contract offshore Brazil.
Investors have honored the company's winning streak by pushing shares to new multi-year highs with analysts raising price targets across the board.
In addition, with profitable backlog increasing and expectations for industry conditions to improve even further over the course of this year, additional upside looks likely even with the company looking expensive from a fundamental perspective relative to peers."
https://seekingalpha.com/article/4574094-transocean-stock-bags-another-high-margin-drillship-contract-buy