Estrella International Energy Services Ltd. EENZD

RE: Why aren't we at $0.10?

[RBCHY7]

I would argue that EEN has only "appeared" to turn the corner based on Dec 19th operational update.  Q3 was horrible, Q4 will be the same.  There is no evidence in the financials that suggest they have turned this ship around.  They still have approx 5 (of 19) rigs sitting idle with a few being mobilized across continent.  I would guess we would see evidence of a real turnaround in Q2-Q3 of this year (assuming they continue to find long-term contracts and grow gryo/service revenue).

Bottom line - no quick turnaround in the stock price coming soon.