$1 on the card-no, page-71

I recently sold my WOR into CDD at around breakeven. There aren't any cashflow concerns, the balance sheet has been bolstered by the capital raising.
WOR on the other hand has a weak balance sheet and conditions in O&G patch continue to decline. I will look to re-enter WOR if it takes a writedown, raises capital at the next result and if the shares remain attractive.
CDD is in my view the pick of the consultants at the moment, not predominantly mining or O&G.
The most recent result indicates the company will still earn $46m per annum if present conditions continue and the cost out programme is successful. I will be watching results also but my feeling is that conditions for CDD are stabilising.
Depending how things pan out I will be still looking for $3-4 per share in a few years time.
What I am hearing on this thread is the usual irrational pessimism that I find when I buy a turnaround- that's why they sell so cheaply.