Message from management, page-4

its even funnier than that:

viz:

chk the inc in utilisation rates .........yaaaahhhh ......that positive .....(tick)
then chk the inc in EBITDA expectations ........

then chk the statement re cashflow neutral at the increased c/flow level ......

what this means is DESPITE the excellent inc in fleet utilisation ......it wont generate enough cash to pay down any meaningful debt ......... let alone any rtns to shareholders ......

and I rekon the above number will be before any "write-off" of recieables ...

its going to take >30-50% inc in dayrates, plus 80-85%+ in utilisation and 3-4 yrs to pay down debt ........


lolz ........

the best that could happen is this puppy gets taken over at 25-35c .......

the worst is a "recapitalisation (150m in new equity) and the piece of poo trades at 6-8c ......