Also, i should have added to my previous post that McDermott...

Also, i should have added to my previous post that McDermott contractors have recently been awarded some very large contracts in Qatar and on the North-West Shelf venture. The NWS project was awarded by Woodside, and the Qatar project was awarded by ExxonMobil.

This is VERY important for PCG, because PCG and McDermott frequently share their work (McDermott often outsources scaffolding requirements to PCH Group). As we know, PCH Group has a very strong presence in the North-West Shelf and already has a strong working relationship with Wooside, and so they're ideally placed to procure any scaffolding work McDermott choose to outsource. Also, PCH Group is building a strong presence in Qatar, and they have done projects for ExxonMobil in the past, so they are also ideally placed to get some work from McDermott for that project.

Basically, McDermott and PCG work frequently in tandem, so these developments are very positive for us as PCH shareholders. What we DON'T want to see is FosterWheeler get some of these major projects, because FosterWheeler have the tendency to choose other scaffolding companies (such as Cape Group).

In a nutshell: don't doubt PCH's direction as a company and the management group. They're positioning this company beautifully from a long-term perspective and i believe this company will be a fantastic investment over a 5 year time frame.


Cheers.