Trico Marine Services (TMAR) Message Board

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Gold/Mining/Energy : Trico Marine Services (TMAR)

TMAR 22.41

0.0%

Nov 7 9:30 AM EST

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To: steve goldman who wrote (644)	8/5/1998 10:21:00 AM
From: D.J.Smyth	Read Replies (2) of 1153

even on a takeover basis TMAR is worth at the very least $14, which approximates its breakup value. what is $9 1/2? nearly 50% below its breakup value. the accountants give a 25% to 35% discount valuation to ships to start with, then you add another 50% on top that here. TMAR is trading now at the same level when it had 20 ships in the gulf and day rates were averaging $5300 a day there several years back. They now have 100 ships and day rates around the world are significantly higher, still at $6500 in the gulf for TMAR (even though others are averaging slightly less) and still at $15K in the northsea

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