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Western Energy Services Corp V.WRG


Primary Symbol: T.WRG Alternate Symbol(s):  WEEEF

Western Energy Services Corp. is a Canada-based energy services company that provides contract drilling services in Canada and in the United States and production services in Canada through its various divisions, its subsidiary, and its first nations relationships. The Company's services include Horizon Drilling, Stoneham Drilling, Eagle Well Servicing and Aero Rental Services. Its contract drilling business includes drilling rigs along with related ancillary equipment. Its production services business includes well servicing rigs and related equipment, as well as rental equipment. It markets a fleet of approximately 41 drilling rigs specifically suited for drilling complex horizontal wells across Canada and the United States. The Company operates around 63 well servicing rigs. Its drilling rigs can include features such as AC power, top drive, dual fuel, automated pipe handling, automated catwalk, hydraulic substructure levelling, hydraulic BOP handling and Range III tubulars.


TSX:WRG - Post by User

Post by barnaby77on Apr 10, 2012 1:22pm
309 Views
Post# 19776563

RE Spectacular Buying Opportunity

RE Spectacular Buying Opportunity

I wouldn't be in any hurry to run out and buy this stock now.  It will have good Q1 earnings and after that this stock will stagnate for some time.  In the mean time the market has priced in what Q1 will deliver and we will see substantial further downside, and I can see it going down to the low $5, or high $4 level.  I don't think this management team is quite as good as they think they are, and the market is letting them know that. At some point it will be a buying opportunity, but maybe in the meantime they can find a buyer for the company, that will pay them a huge pemium , as they did to acquire horizon and stoneham. Maybe in that $10 range.  As far as the anaylists, twelve month target of $12 to $15 is a dream wish at best.

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