I wouldn't be surprised if SWK's Board has been approached to...

I wouldn't be surprised if SWK's Board has been approached to sell the company as an acquisition would be highly accretive to a buyer even at double the share price.

Also, other drillers are saying that the cycle continues to improve (commodity cycle and rate card pricing) so that can only be good for SWK's market rating.

Based on history, SWK has traded at over 4x EBITDA and has high as 5.5x .... implying 37-53c share price and that's attributing no value to Orexplore other than the $12m they are about to put into it.

Makes sense in my view for this company to be absorbed into another driller or mining contractor, and the timing is "now" given the management discount still in the share price and the long over due tidying up that management is getting around to.

Assuming (say) $3m in overheads, that's another 4c per share in value from synergies ... so why isn't SWK worth at least 41-57c to a buyer? ... that's ~39-93% higher than today's close.

I'm not suggesting this will happen, just makes sense to me ... and not advice, do your own research.