I hope you are right, but they are going to have a hard time finding contracts. There are plenty of drillships and jackups available right now. Best of luck, I am glad I did not take a position in this stock, came close.. Tough times in the oilpatch, way down in the valley.
VTG stock collapsed after the news was made public and is trading now at bankruptcy level because most of the revenues come from the Titanium explorer and without this cash the company will have to restructure its debt such as Hercules offshore (OTCPK:HEROQ) did recently.
They are going to have 4 rigs not working by the end of 2015
2 jackups
2 drillships
They only have 7 rigs in the fleet..
Link to rig fleet status report:
vantagedrilling.com/rig-fleet/rig-fleet-status/
Everything I say and write is my opinion and my opinion only. Do your own due diligence when investing
