RE:RE:RE:OGD Earnings Release 3rd Qtr earning release Well, their results were not that bad but not stellar. Seems the mobilization costs for new contracts had some impact. The good news, margins are much better at international and they should make a lot of money as they begin drilling. Lots of money getting raised in the markets and it takes 6-8 months to flow in the market.
So the next quarters should be pretty good as specialized drilling should improve also as well as Chile. Too bad they did not pull results like Geodrill, but let see what they can do. No worries on the long term debt, it is getting extended till next year. Another good point, they are beginning to choose their contracts.
Been adding up to all the drillers. Geodrill posted .13 USD this quarter which is usually slow. And they trade at 2.30 CAN. Rerating will come pretty soon.
The only driller that has not reported yet : Major Driling as their quarter ends April 30. We should have more info at the beginning of june.
GLTA