My view is that the stock may have been sold on the back of the Worley Parsons result however whilst they are a resource based service company, from what I understand, a significant % of the revenue is derived from the oil and gas sectors for services other than drilling (from what I read in the SMH this a.m.).
Given the reported increase in exploration expenditure, I am optimistic that we will see a good forecast for YE 2010.
We will see at 1000.
BLY Price at posting:
$3.45 Sentiment: Buy Disclosure: Held
