RE:RE:RE:RE:RE:Dead dog. Dead money."ESN has done everything right..."
Hardly. Care to comment on the disasterous Colombia venture in 2010? Or the debacle involving the last 2 coiled tubing spreads which were delayed by a 3rd rate fab co which went into bankruptcy?
"couldn't give a rats *ss about a div or buyback?"
Please understand, mgt should return excess capital to shareholders by way of a div or buyback. I have zero interest in ESN taking another flyer on an international "opportunity" using $$ which should go back to shareholders who have stuck with them during the past several years. TCW floated a bot deal @ 1.60 in early 2016 and now they are in the market buying back stock as high as 4.70 down to 3.60 No excuses.
"great mgt @ ESN"
If this BOD has such confidence then why has NO exec bought stock in the open market since Jan 2016?
I make these points not to bash the stock but as a dose of reality. Mistakes have been made but nothing terminal. We own a little less than 2% of the common, began buying in Sep 2015 and topped it off this past Sep 2017. We put peak cycle val(always a discount for small caps) to be closer to 3.75/4.
With Trican looking to add to their coiled tubing div(mentioned in conf. calls and recent presentations) it's time for ESN to reach out. TCW's inegration with Canyon should be fully complete by end of Q1.