Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: ItsAllCyclical who wrote (94097)	8/30/2001 1:11:35 PM
From: Wallace Rivers	Read Replies (2) of 95453

Anyone follow NBR here? In the latest 8-K, said they have sold 2 mil. put options (Sept.), with which they have the option to settle in cash, or buy shares at a price of $86.9 mil. This equates to a price of $43.45/share - am I missing something here with the price just above 25? Is this old news, and they are just alerting to the fact that expiry is Sept., having put this position on a long time ago? What premium did they receive for selling the puts? Does anyone have any knowledge? TIA, Wallace

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