Cqs Rig Share Discussion Threads

[badtime] 23/10/2009 09:52

o..lol..wel gd on the 8.5 ...thy wer a lot lower u know :)

[tiltonboy] 23/10/2009 07:35

Don't ask, but I did buy a few at 8.5p recently.

[badtime] 23/10/2009 00:19

Tilts ..wot price did u manage to buy at?

TIA

[pre] 22/10/2009 13:04

hi tiltonboy....exactly..redemption on bonds should see this alot higher..interesting times ahead:-)

[tiltonboy] 22/10/2009 11:38

pre,

If you knock off the bonds that are in default, the net long notional value comes out at £97m. Knock off borrowings of £40m, and you are looking at potentially 57p per share. There are large maturities in the 2-3 year bracket, and should the oil price remain high, the chances of bonds being repaid in full should increase.

Of course, a lot can happen in the next four years when all the bonds will mature, but I can see further upside from here.

tiltonboy

[pre] 22/10/2009 11:23

more interesting news :


Monthly Shareholder Fact Sheet - Sept 2009 (Cqs Rig)





TIDMRIG

CQS Rig Finance Fund Limited: Monthly Shareholder Fact Sheet

CQS RIG FINANCE FUND LIMITED
Monthly Shareholder Fact Sheet

CQS Rig Finance Fund Limited (the "Company") a closed-ended
investment company incorporated in Guernsey, is pleased to announce
that its Monthly Fact Sheet for September 2009 is now available
on the Company's website and includes information on the top ten
investments and outstanding borrowings:

www.cqsrigfinance.com

During September, the price for WTI crude oil for October delivery
fluctuated between $65 and $73 per barrel. In the wider markets,
positive sentiment persisted and equity levels edged higher. High
yield bonds experienced another robust month with the Barclays Pan
European High Yield index returning 7.4%.

On the drilling front, BP Plc awarded a three year contract to
Transocean Ltd. for its ultra-deepwater semisubmersible rig Deepwater
Horizon. The fixed charter has an estimated day rate of USD496,000
per day for a drilling assignment in the US Gulf of Mexico. This is a
solid rate and it is encouraging to see another major E&P company, in
addition to Petrobras SA, starting to award contracts.

The Company's portfolio continued to make gains over the month,
primarily from three investments.

The Petrorig 3 bonds were marked up during the month after its sister
vessel (Petrorig 2) was sold to Diamond Offshore for $490m. Petrorig
2 is the second deepwater driller Diamond Offshore has acquired from
the bankrupt units of Petromena ASA. Petrorig 3, a near identical
rig, is nearing completion at Jurong and is expected to be sold later
in the year. This rig is the collateral for the Petrorig 3 Pte Ltd
position held by the Company and its sale should crystallise the
recovery amount under that bond.

The Northern Offshore Ltd bonds were marked up during the month. As
the maturity of these bonds approaches, it appears the market has
become optimistic about the ability of the company to refinance
itself.

The largest gain on the month was recorded on the position in Nexus
Floating Production Ltd. The bond was marked up as the market
perceived improved recovery prospects for the harsh environment FPSO
under construction at Samsung Shipyard.
All market data in this report is sourced from Bloomberg and Pareto.

For further information, please contact:

Lynette Le Prevost
Secretary
Kleinwort Benson (Channel Islands) Fund Services Limited
01481 727111

Alastair Moreton
Director, Corporate Finance
Arbuthnot Securities
020 7012 2000

=--END OF MESSAGE---

[pre] 21/10/2009 10:53

....sit back and enjoy....this has got plenty of upside to come imo..institutional buying bodes well....

[lalria] 16/10/2009 14:22

INSTITUTIONAL BUYING

[pre] 16/10/2009 12:37

...another 1.25M shares purchased by Baillie Gifford & co taking their holding to over 14%....interesting...

[lalria] 02/10/2009 14:20

BIG BIG INCREASE IN NAV THIS WEEK

[tiltonboy] 29/9/2009 12:08

NAV over 10p. Some movement.

[andrbea] 29/9/2009 12:08

big leap in weekly nav
100k buy earlier?
up 6% now
breakout maybe, no chart resistance till 20p?

october almost upon us - onset of winter - higher oil prices? - oil rig rates should go up too - better for rig?

[lalria] 23/8/2009 20:26

FOR SOME REASON I THINK WE WILL HAVE A VERY TURBULENT WEEK

[lalria] 19/8/2009 10:16

As I predicted slowly creeping up

[lalria] 18/8/2009 22:01

No increase today however feel tomorrow these should go up a couple of percent as they have done on previous weeks.

[lalria] 18/8/2009 22:00

There have benn reg updates. every tuesday.

[tiltonboy] 18/8/2009 13:56

There was one last week.

[daryl4356] 18/8/2009 13:35

Hi,

Can anyone advse why there has not been a NAV released for the last few weeks? I'm a bit of a novice but thought they had to release one each week?

Thanks

[lalria] 13/8/2009 21:05

POO is on the increase and has been for some time.

I personally feel that it wont reduce lower then $50 and am starting to feel taht it falling below $60 is fading as well.

This is only my opionion dyor.

I personally am in this share for the long term 12 - 18 mnths - should see a good return by then.

[hosede] 13/8/2009 20:03

Lalria
In a deflationary crash it's forecast to fall to $10 - but I think that's unlikely - producers would just leave the stuff in the ground. Lets hope it doesn't happen

[robizm] 11/8/2009 19:03

This will be trading at a discount soon the way it is going

[lalria] 26/7/2009 00:22

$20 your having a laugh
no way oil will go below $50 again

[hosede] 25/7/2009 08:57

Not very encouraging

[hosede] 24/7/2009 15:07

It all depends on the price of oil: If that stays above $60 (say)the rigs etc. which are being built will be sold or leased and the bonds repaid with interest: but if it falls to around $20, exploration will cease completely and RIG will be left with a load of white elephants!