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slulaw

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slulaw

Re: OilStockReport post# 155

Thursday, 06/16/2011 12:55:37 PM

Thursday, June 16, 2011 12:55:37 PM

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It was only 5,000 shares. All its shows to me is continued belief that the company is undervalued relative to its peers. It should move toward 2.5 by year end and continue upward as progress is made to complete the newest drillship and the dragonquest comes online. Its a long term story that will be transformed in Q2 2013 when the Tungsten Explorer comes on contract and the high yield debt gets refinanced. Now its all maintaining high utilization of the current fleet. They are almost 100% booked to 2013.
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