Landdrill International (fka LDI)

[discoduc555]

I've been holding for a while now. This is my super-long-term, sock-it-away-and-don't-bother-with-it play. Total patience. Been averaging down and am now in with a goodly chunk at an average of 14 cents. Just waiting and seeing for the time being.

If I'm not mistaken, they will report sometime in August. If it's a dud, then there is a very real danger that all of their loans will get called in. However, if EBITDA comes back then all of the short-term debt on the balance sheet should go long-term and it won't look like they are going bankrupt.

I watched insiders buy up shares at prices ranging from 28 cents all the way down to 14. The revs are there; they just need to get their margins back up to where they were and this company will be fine.

7 cents for this CEO and these assets...are you kidding me? Not many out there like it in my opinion. It should be interesting to watch it all play out over the next few months.