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Capital Drilling

September 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

CAPD has announced its H1 results to 30 June with revenues of US$59.5m, a pretax profit of US$10.6m and eps of 6.4 cents. As well as adding four new rigs during the half, CAPD decommissioned one to take the total to 77, which it deployed across its various client sites with the new ones going into Africa. Average revenue per rig despite those additions continued to grow and grew 20% to US$154,000 for the half but had accelerated during Q2 when it achieved US$160,000. The annual renewal of contracts continued to go well with chairman Jamie Boyton talking in terms of 10-15% price increases being achieved. The market for equipment and skilled operatives remains very tight and even with financial market turbulence, capital raisi ...

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Capital Drilling (September 2012)

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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