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Keep an eye on Florida, the skipper of a Supply vessel told me if they can get Floridians and Congress to open up near shore waters to drilling, wow!
The Captains are privy to scuttlebutt that most folks never know about till after the fact.. The Boat operators have to project way out in there timelines... If true? Ka-Booom!
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posted
ndeavour files $300 mln debt, stock shelf Tue Dec 20, 2005 04:51 PM ET WASHINGTON, Dec 20 (Reuters) - Oil and gas exploration and production company Endeavour International Corp. (END.A: Quote, Profile, Research) on Tuesday said it may periodically sell up to $300 million in debt securities, common and preferred stock, warrants, units and guarantees.
The company plans to use the proceeds for general corporate purposes, including debt repayment or refinancing, acquisitions, working capital, capital spending, and repurchasing and redeeming securities.
Under a shelf registration, a company may sell securities in one or more separate offerings with the size, price and terms to be determined at the time of sale.
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Looks good, TMR definitely has better fundamentals than END. In the middle of its 52 week range, looks like a good entry point. Good PR yesterday too. Thanks , ill follow it
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It is a shelf offering. That means they aren't actually offering any securities right now, they are merely setting up the legal documents to do so when the time is right. It could be debt or equity, and it could be months away, even a year away.
I would not assume this is bad news, as another poster suggested. I would not assume it is good news, either. However, in handicapping which is more likely (positive or negative) consider this: they still have enough money to pursue their driling plans for most of 2006. It is not as if they need the money right now. IF, however, they were to make an exploratory discovery, they might require more money to exepdite full development. Having proved reserves would allow them to issue debt and pursue that development without additional dilution. By the same token, if such a discovery were to drive an increase in their stock price, they might use that opportunity to issue some shares and raise more equity.
Whether equity or debt might depend on the size of the discovery. Either way, this causes me to believe that a shelf offering right now is in anticipation of good news rather than bad news. Expectations however, don't flow through pipelines. We'll see what the company comes up with on the current prospect, hopefully in the near term.
-------------------- I'm a genius at 16. Believe it.
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