This one needs a very wide berth. The announcement essentially says most revenue streams are ending shortly if not non-existent, no doubt the drilling contracts were won on substantially poorer terms for the one rig that will be in operation. Funding will be becoming more and more of a problem, nothing on the horizon in their markets for the next 6 months that will change the game.
I hope they hang in there but the road will be extremely rocky.
AUG Price at posting:
7.2¢ Sentiment: Sell Disclosure: Not Held
