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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: victorw who wrote (51663)9/22/1999 11:44:00 PM
From: Aggie  Read Replies (2) of 95453
 
Victorw, hello

I had heard that Falcon had a couple of retro-fits under construction (i.e. a conversion of older cargo ships to drill ships), which the Brazilians have since backed out of. The projects were over budget, over time, and as with many operators, the late delivery of the vessels provided a welcome reason to cancel the LOI. Last I heard, Falcon was flogging them off on the open market.

Perhaps Big Dog can jump in here with more.

Regards,

Aggie
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