Breakeven, page-21

AHS100 (s),

now you understand "why", and my prev comments re recapitalisation (mk2) in 18 months time ........

basically - this thing needs "two" factors to actually make any money:
1. inc in utilisation
2. inc in day rates .......

I agree with your summary, but you haven't incld anything for its "long dated" call option .........

that's prob why its been trading in the 20-30c range for last 12 months .......

good to see an inc in utilisation in last 6-months ........

the question remains " how many" of the stacked boats out there will make a comeback out of retirement, and cap the day rate ????????

rgds
V_H