$4

I have read two reports now from ords and macquarie both putting a conservative price of $4 by years end.

I did expect a 20 cent movement the other day just the other way around.

I really do not understand why the market is treating BLY like this?! the only and i mean only thing i read in the reports and analyst coverage was the rig utilisation rates seem to be stalling at the mid 70% for the moment but then they go on to say that the forward price movement for the contracts written last year in the hight of the gloom will be unwound by years end adding another 20% ish (from memory) to bottom line.

seems to me that everyone still things bly is in trouble for some reason????