SoB and Mrgw I totally agree. I expect the quarterly will prove...

SoB and Mrgw I totally agree. I expect the quarterly will prove how oversold this stock is; not that I need this quarterly to know that. I expect the company's revenue and profit to keep growing. I was especially encouraged by Lange's upbeat comments in the latest announcement.

As far as companies cutting back on expenditure, that may be true to a small extent but nowhere near to the point that companies like NMS would be affected, as there will still be more than enough work left. Large exploration companies do not change their expenditure plans based on the short term fluctuations of the oil price or a bear market; their plans are based on a long-term average expected price, which currently sits between $80-$100 IMO. Even if new exploration is curtailed, there is not much room to move on maintenance given the ageing infrastructure around the world; so if expenditure on new projects is reduced then it will have to be spent on maintenance.

It was only a few short months ago that the price of oil was sitting at $140 a barrel and so called "experts" were predicting it would hit $200. Extreme prices feed extreme views and the crowd follows until the time comes when people realise how unrealistic their expectations are - that goes for extremely high as well as extremely low prices in any commodity or market.

NMS's current price - along with many other stocks - is currently driven by fear and nothing else. All rational thought has evaporated; that doesn't mean there's anything fundamentaly wrong with NMS and its future prospects. I've said it before and I will say it again. For anyone with a short term horizon on this or any other stock, you have every right to panic and sell, however you should not have invested in this market at this time if that was your time horizon. For the rest of us with a 3-5 year horizon sit back and ignore the short-term, irrational fluctuation we are seeing. If you have extra cash then be happy about the current price and buy some more - I did this week and will probably buy some more on Monday if it hangs around the current price or drops more.