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To: AuBug who wrote (262443)10/2/2003 11:39:48 AM
From: Bid Buster  Read Replies (1) | Respond to of 436258
 
BP will continue the charter for the next year and it could be that they decided not to renew the option thinking they could get a more favorable rate sometime down the road.
But if no new charter the liquidation value of NAT's 3 ships is probably 75 mil and outstanding debt is 30 mil with 10 mil outstanding shares that values them at around 4.45 a share if they do liquidate not counting expenses..so maybe 4.00 a share?