EZRA WON $734M CONTRACT IN VIETNAM

Dear Sir/Madam, I hear rumuors about Ezra won some $734m offshore services contract in Vietnam. If yes, there will be run on this stock. Best regards, Winstorn

newspapers said this morn tht the contract is up to US$1 billion. Amazingly huge... why the stock price fell this morning? :woohoo:

musicwhiz has posted his take on this big deal in his blog: sgmusicwhiz.blogspot.com/ here\'s a part of it: Personally, I feel that this may not be the last time Ezra heads to the capital markets for fund raising, and it is making me very uncomfortable as to how the Group persistently and consistently raise money through financing activities and not operating activities. Their cash burn rate is basically very high and the Group seems to thrive on issuance of shares and increasing their debt. I had once erroneously assumed that Ezra would be able to achieve stable positive operating cash inflows once they had stopped their fleet expansion and tied up their long-term charters; but it seems that this was not to be. Their relentless focus on expansion by taking on the second FPSO and also the purchase of Ice Maiden confirms that more dilutive fund-raising is on the cards, and probably a lot more debt will be loaded on both EOC and Ezra’s Balance Sheets. This is an unacceptable situation to me as an investor.