TCW Net tangible book value $2.11 per shareI did some math on this and if you take the book value and exclude the goodwill it comes to a book value of $2.11 per share. Considering they were able to sell assets in the past at book value and that the company has little to no debt - there is significant value to be unlocked here. When you consider the company was doing the NCIB all the way along ( assuming shares were undervalued ) and Armoyan/Clarke is bumping up against the 20% threshold with the recent "all-in" multimillion share purchases averaging around 50 cents - something is going to happen here for sure. Trican was recognized as an industry leader which would suggest industry leading high horsepower equipment that must have a significant value and not be trading at 20 cents on the dollar. Yes, the oil and nat gas markets suck but these guys with tonnes of debt need to keep pumping too. The question to me is whether or not there will be a near term event (ie. 2020) to unlock value or if we have to wait until commodity prices recover. I think there is great opportunity here for patient money.