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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (40779)12/22/2010 3:10:33 PM
From: E_K_S  Read Replies (1) of 78516
 
Hi Paul -

Re: Ultrapetrol (Bahamas) Ltd. (ULTR)

I noticed that too. The convertible bonds (total $70 million) were priced to convert at $7.51/share and mature in 2017. The monies were going to be used to pay for the two new service ships that get delivered next year. There was also some rumors that a purchase in land for port & storage facility expansion in their River Business. Cost of capital at 7.5% should provide a good return considering the double digit growth in that segment of their business.

I was going to add more shares if it broke below $6.00/share. I was early selling shares earlier this year at $5.60/share.

It's encouraging that management is still very positive on making more capital investments.

EKS

FWIW - A little more Samson Oil & Gas Limited (SSN). Still not at a full position.
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