(edit) ENY - You were aware of the lawsuit against this company right? I mean about 15 min of DD and you can find out. I called IR and they said they have about 8 mil set aside on their books to cover these potential costs pending appeal. Her words, not mine. Company IR dept said this may not getting settled till 2006 or even later. Hard to say, but you can't really count on them keeping their existing cash hoard.
I don't recall you mentioning this lawsuit w/respect to their cash position in any of your prior 60+ posts on ENY. You mention their massive cash position though frequently. Did I overlook something?
Again, just my opinion. I don't have a long/short position at this point. Still in the process of doing DD which I started doing based upon your posts. So far two things which looked promising the cash hoard and rig repair operations come w/strings attrached and have been sold respectively.
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