Cal Dive International Inc (CDVIQ)

[Jacob-03]

Well Caldive Singapore is working pretty busy at the moment. They have a 5mth Sat Job in Myanmar. Installing spools in 130M of water.
I'm wondering that since Bankruptcy courts can't touch any of the subsidiaries outside the US. That caldive can continue in limbo, until all creditors have split the last remaining dollars from CalDive US. Then the company can re-emerge from chapter 11.
Debt free, and having unloaded the oldest fleet in the diving world.
That leaves $145 million in NOL, and BP lawsuit. It would be pretty funny if caldive could raise a small amount of capital and buy Deep Core. You would have a new lean and mean Caldive, which has important personnel back at their positions. The aging fleet is gone, and your free to charter your pick of the litter, on new cold stack dsv's for cents on the dollar right now.
Wishful thinking.