Replies to post #38561 on Sixty Six Oilfield Services Inc (SSOF)

[SooS416]

Just think logically about the debt.

1. No one would risk giving a company $20M for convertible debt, just way to risky for that level of money to hope you will recoup through shares

2. SSOF with now combined entity with 5 Star will have a large asset base. SSOF already had $6M in assets, plus $3M from settlement that seems good to go plus what 5 Star has which I would guess is much more that SSOF based on the nature of their business, so $9M from SSOF and say $10M from 5 Star gives them almost $20M in assets to pledge against the debt.

3. Proposed sale of Oil rigs valued at around $15M again gives plenty to pledge against the debt.

4. Connections with ALIC which specializes in the raising of capital with a focus on Oil/Energy sector, sounds like a good fit to me