I doubt their rigs remain idle the whole year. That is the most unlikely of all scenarios, and in that most unlikelihood of all scenarios the SP right now is still attractive.
Management know there is a little bit uncertainty when it comes to Atlas this year which is why they were a little bit guarded in their guidance.
But still they are expecting growth across the company as a whole and unless Atlas gives them absolutely zero other parts of the company will pick up part of the slack. Maybe not the whole slack, but a fair bit of it.
I just think people are making assumptions and coupled with negative sentiment we see what can happen.
AUG Price at posting:
$1.68 Sentiment: Buy Disclosure: Held
