In the last 2 weeks they have wrecked 2 rigs. Lack of maintenance. One being cut up for scrap. Incompetent staff couldn't fix pneumatic problem on 2nd rig and it caught fire! Report had to go to BHP so expect them to lose contract. There could be a cashflow problem as well. Orders for parts have to go via Adelaide - 3 days to get a basic item. Staff aren't being sacked (yet) they are just leaving in frustration with Company and they can see contract disappearing. They're getting other more secure positions. Have no idea why they can't run a simple drilling operation. Perthsnooper. Things I hear at the local.
See if BLY can contradict the above. SHORT BLY
BLY Price at posting:
$2.15 Sentiment: Sell Disclosure: Held