Yep, H-1 might be good, but guess what folks.....
After (IF AND WHEN) AZZ sells that little package of dud wells up in Oklahoma (Bids due 23 March), AZZ basically isn't going to have ANY production until the current round of wells comes on line.
What's that mean?
How about the cash position? Where is it now? Do they have enough to complete the current round of drilling and hook ups?
Interest costs on the A$16 million of notes are $1.60 million pre-tax a year.
That pretty much takes care of a lot of the free cash flow from H-1....
How do they support the current market cap of the company?
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