There are times in life you don’t like being right. This is one of them. The writing was on the wall about drilling in November. There was never any real intention to seek a rig. The company has a bag full of cash, and the amount of work for November can be put down to making a few calls to rigs already booked months ago. Not a bad way to earn 20k for the month. The assumption can be made that the announcement was made to convey an image of work being done behind the scenes. Realistically that announcement was never going to be fulfilled. The other announcement of looking for other opportunities is no doubt happening. Don’t expect anything until next year. No need to rush these things with years worth of salary tucked away.
all opinion and not advice.
MAN Price at posting:
5.1¢ Sentiment: None Disclosure: Held
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