Four of the top revenue producing rigs out of service and he's buying a pump manufacturer. Palmer needs a mud pump attached to his ass. First he pisses off the investment community by not following through on his stock offering, not to mention his lawsuit fiasco. This is costing millions.
Correct me if I'm wrong, but wasn't the choice to put off the stock offering about as smart as smart gets?! Maybe even brilliant, lucky, etc.
I'm looking at all the contracts in the works to be announced soon and wonder why anyone who wants share price to move up would complain one bit. Screw the bit about pissing off the investment community! Now they'll have to pay a fair price for the company they were about to get at a RIDICULOUSLY low price, and they'll STILL make money hand over fist. IMO of course.
BTW, if there is an over-reaction (neg)to the APIs which were in line with expectations, tomorrow could be a great opportunity for people to get on the train.
I cashed out a few weeks ago and am feeling a bit sick about it now. A boat dealer has my money now. I'll tell him about it. Maybe he'll throw in a floating key chain or some of those nice orange life preservers. runadamill