trading halt, page-16

Happy

they have already stated the CLRS is commercially viable and were just waiting on results from contract submissions several years back. This proved to be inaccurate.
Seeing as we haven't announced another commercial test for the CLRS I am not sure how they could now claim it to be commercially viable? Unless they did a commercial test without informing the market?
My guess is...and it is purely a guess, that the new CEO has looked into the bacjground of all of the business and and looked at what is offering in the future and has possibly convinced the board that the CLRS offers no viable commercial future and is infact just going to be a cash drain.
As I say...just a guess and could be completely wrong. If however it does prove to be accurate those that bought in based on the information published about the CLRS would have every right to feel mislead.
That trading halt does not read positive outcomes to me and we have recently has the GT3000 independently reviewed so it wouldn't be anything to do with the GT3000 IMO.

I however do see it as a positive if we concentrate on being a drilliung company so not unhappy at all if the CLRS is flicked and also not unhappy if I have misread the halt and the CLRS proved to be commercial (doubt it).