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Strategies & Market Trends : Greater China Stocks

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To: Julius Wong who wrote (1277)	11/17/2003 10:21:06 AM
From: Otho Fulton Tapp	Read Replies (1) of 8334

JULIUS Your post No. 1277 indicated you liked 5 oil tanker stocks. During our conversation Saturday you also liked VLCCF due to being under valued. Due to Shell canceling their lease contract for the 5 very large tankers, management took a vote by share holders, which narrowly passed, to maintain company operation. This vote could be changed and the company could be liquidated. With a market cap of $180.75M, at 11/14/03 close, and the only apparent assets being the 5 tankers ($36.15M each, less liquidation cost) it would be interesting to know what the tanker cost would be on the present day market. The company has been in operation some 6 or 7 years, the age of the tankers are probably at least that old. Is there a way to estimate the tankers value? Thanks Otho

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