AWLCF - Awilco Declares Second Newbuild Option Changes CEO
In my previous article on Awilco (AWLCF) titled "Will Awilco Buy The Second Newbuild Rig?", I argued that Awilco will likely give the second newbuild option a pass as the downside in oil prices seen in the fourth quarter of 2018 put pressure on Awilco's shares, reducing the attractiveness of equity financing option.
I got this one wrong. Awilco has recently announced that it declared the second rig newbuilding option, contemplated private placement of its stock, and appointed a new CEO. Let's get through these developments one by one.
The new