near the end, page-8

You have probably done something along the lines of $2mil/5years is $400k / year. Margin of 30% is $120k profit per year.

$1mil/3months is $4mil per year. $4mil/$120k = 33.33 contracts. Fair enough I guess.

But debt free saves them $240k per year. Their are other one offs. Overall that $1mil figure should come down.

INT predict POSITIVE EBITDA for the year end June30,2011. You either believe or you dont. Personally I think they might take a bit longer to mature, but I do see a profitable future.

Whether the profit can justify the market cap, I'm not sure. But it's annuity style is great for future growth once they reach breakeven.

Their is risk that they dont sign enough contracts or that the contracts don't deliver the forecast revenue/profits. But every junior oiler is in a worse position with all eggs in one basket.

INT is a speccie and probably worth a punt for a 6-12month target, with a tight stop loss if things go pear shaped. No different to an oiler drilling a duster.

We can pick apart ANY speccie. Its what makes them a speccie and not a bluechip. Its better to look for the positives to shortlist which ones might be worth the risk.