Hope the auction turns out a nice bid.., page-3

Not a chance.

It's a distressed asset and the bidders know it. The business has a mountain of debt and no way of repaying it.

Most likely scenario is that one of the current bidders - Ausdrill, Oaktree, NRW will take it on for cents in the dollar. What that means is that the major secured creditor will take a significant loss and if that is the case, investors can say goodbye to the lot. The major lender will get anything that is going to be paid.