Ann: Trading Halt , page-7

I guess there are three main elements of their business:

The Australian drilling operations - could they be acquiring a smaller rival to gain market share, particularly in NSW? They would probably only do that if the rivals existing contracts were good and arrangements had been tied up with the coal mines in which they are operating. Another more left-field possibility is acquiring a similar drilling operation overseas that has contracts with clients that HDX have relationships with.

The Reichdrill business - could there be looking at expanding this by acquiring a similar business (in the US?) that could complement Reichdrill?

The Hydraulics business - again possibly a rival or complementary business to expand the reach or operations of this?

There are other possibilities, but these are perhaps the most obvious.

angus