Yes it is disappointing the share price has dropped that’s for sure. But!!! Lang’s strategy is to move into deeper water. The ROV and boat are not in service so the synergies are not fully in place to deliver earnings potential yet, plus there’s been a massive market downturn. (Which I reckon is on the verge of a major turnaround).
I have absolutely no worries about the future of Neppy.
For all the twitchy people have a look at the chart of a major oil and gas player. Click on all data and you will see that several times the share price of Transocean dropped by more than 60% several times. But look where the price ended up.
