Wilks Bros"sOur best guess is that after raising their stake to 11.50% last week, this week will show they are closing in on 15%. Anxiosly await their filing on Sat or Monday morning.
CET is now trading at .75x book value and no longer the cheapest energy services stock. That title now goes to the following:
ESN, @ .51x book value...they announced the court will have the patent verdict released sometime next week. Earnings wil be released after the bell on Nov. 8th. If court rules in their favor then we will see a 25-35% pop...if not then could see a panic drop of 20-25%. For a company with zero debt, a 6-10M verdict is far from fatal.
CWC, @ .515x book value...earnings will be released after the bell on Nov 1 at which time we hope to see the conclusion of their "exploring strategic options" with an outright sale announced.
With crude breaking out, we have zero interest in giving away our CET shares until we see 2.50/3 Cad.