Canaccord Report - Aug 30th I encourage all shareholders to get a copy of their Aug 30th report.
"EEN has spent 2012 actively working to upgrade contract terms in Argentina and Peru"
"In a few short months, EEN has gone from operating or mobilizing only 10 of its 19 rigs (as at May 31) to 14 of its 19 rigs (as at Aug 15), while actively marketing its remaining five rigs."
"EEN's largest and most profitable asset, its 1200 hp drilling rig (originally working in Chile), is move to Argentina on a signed three-year contract at very healthy margins. This rig had been idle over the summer and will now realize year-round work."
"We expect significant growth and EBITDA to the (approx) $4million per quarter level, commencing as early as Q4/12, as EEN finally gets all of its high-end rigs deployed and working."
Makes me wanna average down again (for the fifth time).