tag:blogger.com,1999:blog-2080506270244832638.post6526476717719817973..comments2024-03-28T07:17:13.573-05:00Comments on Clark Street Value: Civeo: a Spinoff and a REIT ConversionMDChttp://www.blogger.com/profile/10679835609782815537noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2080506270244832638.post-32281463259584562322014-09-29T15:05:44.644-05:002014-09-29T15:05:44.644-05:00see how it closed at the low today - my guess is d...see how it closed at the low today - my guess is day traders that were expecting a bounce, in the absence of a bounce, puked it at the end of the day (I think a number of them have to go home flat on their positions..what a way to make a living!). Management left guys hanging on the conf call with a lot of unanswered questions - not blaming them since they don't know the answers to future occupancy. This one will be interesting because the constantly fluctuating oil price adds a lot of value here if you see it as an option rather than equity. no namehttps://www.blogger.com/profile/01180488577665672291noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-78479627255893162922014-09-29T10:42:00.374-05:002014-09-29T10:42:00.374-05:00http://ir.civeo.com/releasedetail.cfm?ReleaseID=87...http://ir.civeo.com/releasedetail.cfm?ReleaseID=873360<br /><br />Civeo ended up choosing not to convert to a REIT, but to re-domicile in Canada for tax efficiency. I might write an update post, but my initially I think management is making the right move here. When I put the bull thesis together, I didn't fully appreciate the tax complexities of combining their international operations with a REIT structure. The tax savings would have been limited, really only coming from their ability to any repatriated cash without penalty. This one hurts a bit.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.comtag:blogger.com,1999:blog-2080506270244832638.post-24769861200358104362014-06-09T10:40:30.350-05:002014-06-09T10:40:30.350-05:00http://online.wsj.com/articles/an-australian-boom-...http://online.wsj.com/articles/an-australian-boom-town-feels-chill-of-commodity-price-decline-1402281061<br /><br />A nice WSJ piece that highlights the Australian Coal risk, Civeo has a 1200 room lodge in Moranbah, Queensland.MDChttps://www.blogger.com/profile/10679835609782815537noreply@blogger.com