how wrong was that statement

extract from article almost a year ago - (The Australian)

OIL and gas contractor Neptune Marine has unveiled half-yearly revenue of $97 million and forecast buoyant times ahead despite stormy economic waters and the sinking oil price.
Managing director and chief executive Christian Lange said Neptune, which provides engineering, surveying and subsea welding services, was largely protected from the downturn because of its exposure to oil and gas producers.

"We see some impact in that some new field developments may get postponed, but to date we haven't had an impact from this taking place," Mr Lange said.

"The bulk of our business is related to inspection, maintenance and replacement services and we've seen no slowdown there.

"You would generally see seismic and exploration drilling are generally the first budgets to get cut -- we don't have a large role to play in that side of the business, because that's typically a drilling game."

HOWEVER TWO MAIN REASONS C.Lange is blaming the sharp decline in 1/2 NPAT are 'Drilling and Exploration activity' -yet these are areas NMS is generally not exposed to !!!
i hope these reasons are just not being tossed into the mix resulting in this poor performanace, and the real reasons are lack of success in merging all these purchased enitities.