What was the cost then Santoo, you state you know what it wasn't, where exactly did you get this information?
If the refurbishment has been completed, when was it completed, and why was it not used for its imported purpose, or sold or hired. What are the intentions for this rig, it is not sound to have it just sitting idle. What is their plan C for this important rig.
Management are not giving a clear picture on the idle rig, or why they have never commenced the announced planned drilling campaigns since Sept 2011, right up to the last qtly plans. This leaves a big query on managements inability to perform as per their own guidance. Just like sales to China at end of May for June, and followinfg qtly reports, yet no sales occurring either. Management on these points alone in my opinion makes this coy too risky. Their associated coys also have a very poor record for retail shareholders.
What happened to the JV with CCC and the money transferred to CCC?
KAB Price at posting:
1.0¢ Sentiment: LT Sell Disclosure: Not Held