RE: back down we go22 Dec 2017 13:52
hi james, you are spot on IMO too...off the back of the agm - it was evident that ONGC were bargaining hard with us and even made us invest $1m in a BOP filter even though we told them it was not necessary but cos they wanted it and for us to close the deal RG gave in. however - i wont be surprised if ONGC have been pushing us further and RG in the end telling them where to go. RG did make it clear at the AGM that this deal was hardly making us money but will cover costs and also allow us to get in with the gov in india. so good and bad news in there at present...too many people have been taking us for a ride now given our performance so i theres always a time and a place where you ahve to show the middle finger if it doesnt make business sense and thats exactly whats happening here....all IMO btw.
have a good break all.