Yeah I can understand those reasons for selling but management...

Yeah I can understand those reasons for selling but management don’t want to be a capital intensive drilling company; it’s just gets a foot in the door of being a water company and provides a good base for income to fund growth.

Some level of contengency for weather, maintenance, etc has already been priced into their $11m ebitda estimate, The company won’t want to miss guidance again.

I think the potential for this company is understated on here and on the market, it might take time but being an industry first water as a resource model will be exciting; it will just take time. While deplacing smaller players won’t be easy, it will be about acquiring the right companies and grow organically where they can. But then the company can hopefully offer something to the tier 1s the smaller players can’t, and that is scale.

We know Peter and James will build the company up slowly and methodically - Peter spent 2 years just finding the original Connector Drilling assets. So I think patience is required but I honestly think for risk v reward, this is a great play (now probably trading near asset value). It might just be bit of a slow burn but hopefully with all the rigs now up and running (or close to it), the company can build up their cash balance while we wait.