An Investment cas, page-10

There were discussions apparently amongst company officers that considering where the share price was and the cash flows coming in that a buy back would be warranted. Others preferred the debt be amortised quicker. Looks like debt amortisation won out. I'd prefer to start a buy back now but I'm not going to stir the pot if they want to rip into the debt further.

Yep, as I've said the impairment is disappointing. But put it in perspective, it's not a quarter of EBITDA &and the share price has dropped a 3rd!) & there's every chance they'll be adding a good lick of it back down the track. They've done the right thing, they're chasing it through the courts. No sure what more do you want?

No clarity? They've spelt it out with what's happened, who it is, the course of action and where they stand right now. Pretty clear for me.

I respect your point of view and I'm not here to change it. I've simply voiced mine and you are of course free to counter it. And maybe I'm thick but a single contract going to dirt does not in my opinion change my view of the capability of the Board or the senior management. If you feel that you can't trust them surely that's a huge red flag and perhaps you should consider selling. For mine the underlying numbers speak for themselves. They'll post a couple of quarters of solid numbers going forward, and the share price will follow. The outlook statement is very positive, managers will be buying on market with their own cash and they see where rig demand will be greater than availability. Utilization and margins are going up. The business is humming along nicely. I'm happy to back them and have been putting my money where my mouth is....I've purchased over a million shares this week alone.