An Investment cas, page-3

Yes. Hugely overblown share price reaction nowhere representative of the numbers released in the Quarterly update. Some people have chosen to focus solely on the non performing contract, virtually no discussion on the figures otherwise posted in the threads here. For mine it's a perfect example of throwing out the baby with the bathwater. I've been buying from 46c down to 43.5c today and will continue to buy. I'm pretty sure they will be buying back shares after the Half Yearly is posted. It's the best use of capital they could deploy.....far better than any dividend or faster amortisation of debt. I spoke to the CFO a month ago imploring the company to do so. Buy/sell depth has disappeared it it won't take much buying to sent the share price up. Considering market conditions haven't looked this good for drillers for many years and are still improving, the positive backdrop, along with an excellent & credentialed Board and senior management (despite the opinions of some here) see this well placed to do very well. A temporarily beaten down cyclical in a strong industry upswing with solid oversight and a healthy balance sheet is a nice place to be. I'm happy to be taking shares from sellers. If there was one holding in my portfolio that I would nominate as a potential 2 bagger over the next 12 months, this is it.