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Strategies & Market Trends : BAK - Investing -- Ignore unavailable to you. Want to Upgrade?

To: xxyy who wrote (2915)	6/9/2012 11:12:23 AM
From: Covenant	Respond to of 3249

Re: NATDF I'd also dispute that there is an 'excess supply' of older jackups. That supply has bifurcated - the well maintained ones are under contract, the poorly maintained ones are sent to storage and won't return. I'd say most of the well maintained, older rigs have contracts these days. I'd guess that 95% of NE's older jackups are contracted. If by "poorly maintained" you mean "not upgraded/modernized", I would agree. NE upgrades their jackups. Drillers like HERO do not. So NE is able to get customers while HERO is relegated to the desperate customers who need any rig, not a modern rig. What really killed it for me, was when I made a futile attempt to buy some shares a while ago. I tried for probably two days and never got any shares. On a given day, a few hundred thousand dollars of shares get traded on the pinks. So if you care for liquidity in stocks ... this ain't it. Liquidity has improved and bid/ask has been showing now for a couple of months. Most days still do have less than $1MM in trades, which is a big improvement from when less than $100K was the norm. NATDF is not a stock for those who will want to be able to trade out of it in a single day.