Just a quick reminder....

On 2018 Numbers of 225M Rev and 26.5M EBITDA

- 1.5x EBITDA

- 0.67 BV/ share (1.02/share adjust for FMV of PPE)

- net/debt to EBITDA under 2.5x

- anlayst PT over 1.00/share

- Gross margin expansion could double in 2018

- Still recovery for 10-20% upside in pricing

- Reduction in low margin subcontract use

- Introduction of at well site service offering

- Consolidation will heat up with recovery in space

- WTI >60 w Rig count strong

- Tax loss selling over




Using only a 4x EBITDA multiple on 2018 numbers gets you to 1.80/share or still a triple...


If sentiment ever turns, look out!