RE:RE:RE:Down 7%, whats going on with these drilling companiesYes of course that would be great to see a buyout at a 50% premium... however I dont think the company wants to sell itsself out at bargain prices... would be ludicrous on their part / only good for short term stock players... I may be in that camp LOL...
Lets just do a little review for you
They recently changed out CEO he resigned... good or bad / not sure
Purchased new directional tech lately will make them leaders .... for a cheap price...
They have cut down their opperational and office costs... more efficient
Deployed their rigs to where there is work... cant hurt
They recently advised that they will be adding more rigs that will be working in their Canadian and American / operations at higher rates with add ons...
leased out two more rigs in the middle east for the next five years...
This is all the recent announcements over the last few months along with what you mentioned the strategic review with open possibilities....
Doesnt sound like a company that one should throw in the bath towel... my bet is that we will see a firmer share price in a quarter or two... and if the stars align as many of the talking heads are stating the service companies will be a sure bet !!!! JMO if someone has a contrary view I would like to hear it as I just can not see any long term downside / sure maybe 25cents in the summer months here but certainly more chance of a good gain after summer weekness... that is the way I have been playing it ... so pick away on weekness and name your exit point depending on what you see and think... I say 2.00 by october... 3.00 by 4th quarter and if the apple cart isnt upset 3.70-3.80 by spring... with very limited risk involved