Thats some great news about the Seadragon. My only fear is that this Europe stuff will spillover and seize up lending. Although from what I gather, getting a big loan for a long term contracted rig is not too difficult. I am following a bunch of companies that need to get financing lined up and things appear to be moving somewhat slowly out there. Getting the Platinum funding out of the way will take a ton of risk out of these shares. That dayrate they got is really solid, I have see a bunch getting booked in the low 400s.
Also, Vaalco and Salamander have both had very recent positive news about our rigs in service. They continue to get work done on time. Hopefully we can get that Vaalco extension.
Look at the fund purchases of these shares. Major purchases were made last quarter. Lots of 4 to 5 million share holdings. The float is really getting locked up. The volume of the selloff recently has been really light, and is probably some smaller fund liquidating its holdings. http://www.mffais.com/vtg
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