should be a good trade, page-127

Lets hope this is the start of a genuine turn around for BLY. Its share price has languished while all its competitors have had big gains. There is definitely more drilling work out there and BLY's utilization rate will be improving but they are coming from so far back in terms of profitability. A market cap of $1b for the market leader in drilling services feels doable. However are they cash positive yet or well they need to borrow even more money and/or issue even more shares? Having come this far I am choosing to be positive and believe that 3 to 4c is possible by the end of the year. Of course lets not forget they have been as high as 12.5c in the last 12 months!