Cant see anyone using the services long term at that EBITDA, you can buy your own rig in 3 years and then effectively use it for free for the next 20 years.
If it wasn't for the gain on sale, Vysarn would have made a loss last year. All that suggests to me is that there is currently a shortage of rigs, that can change in 12-24 months and then there is suddenly atleast a $7million write down on the books. If anything its probably a good time to invest in a rig company specializing in dewatering, food for thought for Hutchy and Jimmy.
Ann: Investor Presentation September 2020, page-33
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Mkt cap ! $133.9M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 4 | 35846 | 31.5¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 32.0¢ | 89049 | 2 |
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