Paragon Offshore plc (fka PGNPQ)

[gta3uzi]

Might want to curb your enthusiasm there, Turbo.

Perhaps you haven't notice the rate at which most OOC's have been burning through contract revenue without adding many, or any, new contracts?

Yeah. PGN burned through around 400m in contracts this quarter and lost about 50m worth with the PEMEX thing. How much did they add? Not much.

Figure the 1000m they have remaining for 2015 is what they'll have at the end of the year, so 1400m in revenue at year's end. If Hercules Offshore goes under, being the canary in the coal mine, you can bet your pretty little portfolio that speculators will see Paragon going under next before Seadrill or Diamond.