There is no question that Drilling in SA is very profitable for companies that prudently plan to exploit the current crescendo in oil boom. And Dawson and co have recognized that aptly and in my opinion they over estimated in their hast to captialize the strategic important of Drilfor in Brazil they paid about 62m(52m for the purchase price and 10m for refurbishing) I believe this was very expensive acsition. These rings were old more than 30 years. They could have just funded from cash flow., They totaly went against their initial plan to focus on new state of the art tech.
So TID may go bust in time of boom due to bad planning of levereg. The 230m debt is a problem, a huge one
totid