i dont believe its a vessel - i recall some time ago lease rates...

i dont believe its a vessel - i recall some time ago lease rates plummeting, and so it again became cheaper to take a long term lease on a boat, rather than purchase.

and re:the pegasus posts of several months ago, some folk were adamant it was a lease - of course we have heard nothing of pegasus officially.

whether its one purchase, or several, for $40m its gonna be significant.

one question - at the end of last year when they secured the NAB credit, during the height of the credit crisis, i was amused that such a small company could secure such a large amount with relatively minimal NTA. which begs the question, why not go down that path again ? is it cost related ? is it demands from instos ? do remember lange was investor relations boss at schlumberger, so he'll have the answers.