wc8, the song remains the same...

WC8 I'm sure you'll keep a close eye on Coretrack for a re-entry. The story that attracted you and others remains the same.

The main problem apart from general market uncertainty seems to be funding for the next two rigs that they are obliged to build beginning next year. WS stands to gain the most at the expense of shareholders if they don't build.

Was very disappointed that they weren't able to complete at Merriden this year but there's definately been progress eg CLRS and the small contract at Whicher Range.

The CR was a stroke of good timeing and they have conserved cash. If they can debt fund for rig one I'll be back; by then the rig will have a few more jobs under the belt. It's still unproven atm and that's the problem.


cheers and good luck everyone when the worm turns

DJ