Their bidding in North America is very inconsistant, either they are the high bidder or the low bidder, obviously they only win the low bids. For international they are typically in the middle, which means they are higher than BGP & Sinopec and lower than the rest, but as the CEO said in the press conference, they're not always the lowest bidder but they then get the company tendering to through out the lowest bids. All of that means they are not making any money anywhere and it will continue into 2011 and as long as the same management is in there!
Do you know if they are underbidding on both international and North American? Looking back on this company they have consistently underperformed in my opinion and I think the news that PGS is open to taking a loss on their common stock is the most damning piece of evidence there is.
Keep buying, I hear wallpaper is kind of expensive, you can use the common to wallpaper your house or office!!!! Every other seismic company is up due to oil prices, except this one, poor management, poor decisions, & a BOD that can't see the real problem!!!!! Avista will be lucky to get .40 on the $ for their preferred! Sinking just like I thought!!! Anyone want to take bets on if they report on time?
Confident we will push down below $8.50 tomorrow if anyone bothers to read anything past the headlines they published to make it appear they are doing great.
Yes, amazing revenues! Unfortunately, losing money with each additional $ of revenue...not a good business model. Would love to hear any opinions to the contrary.
Good news from a little mouse that works inside haha they expect this to take off like a freight train starting tomorrow all aboardd don't miss out buy buy buy more contracts to finish out 2011 and beginning 2012 should be a great lunch break up around 60 cents and closing around 9 Good day