market update, page-2

mmmmmm

i'm not so sure kengaikl.

Forcast ebitda (more important IMO) is up to 220m almost double last year, on a 75% utilisation and the phasing out of the gfc contracts in this half, so i would expect a 10 - 20 percent improvement here alone for the 2011 year (editda 242 - 264).

Rig utilisation was dissapointingas i was hoping for 80+ there is still good scope going into 2011.

IMHO i think we will see some consolidation at the mid $4's until next year.