Time to off-load this Mermaid, page-69

tnks GoldB,

appreciate your thoughts ! I am also of the opinion that oil has bottomed I expect 2017 will be the low re FCF .....Understand the hitting zone analogy, and also the higher risk comment.

DangI - I have previously pointed out the various mechanisms that could be used. an equity issue would be the most democratic .....a placement the least so, a convertible preff - just delays diliution, and would be 10-12% int costs in current environ's.....

there are lots of examples of "drip feed" capital sources ......I hope management don't go down that path....

earnings, and perceptions of future earnings are what drive stock prices .......asset values are 2ndary (imho)......the company is essentially a long dated call over oil prices, with the exercise price being the vessel holding costs.....

anyways - I shall continue to watch paitently.

rgds
V_H