M.M.,
Houston Chronicle article gives good insight on what's happening between oil producers & service companies.
chron.com
It will be a REAL challenge for IMMM to make market penetration, particularly with independent producers.
From what I hear down here, "independents" are staying with what they have. Many independent oil producers & services were hurt BIG time during mid-80's bust. Those that weathered the storm have STRONG allegiance towards each other. It IS "good ole boy" network. (After moving from San Francisco to Houston, back in early 80's, in order to get my 1st promotion I had to learn how to hunt, fish & play poker.)
They do business with friends. They survived by helping each other out during the bad times and, therefore, are now EXTREMELY loyal towards each other. There are emotional bonds.
There were a lot of people who didn't make the cut and fled. The independents are distrustful of "outsiders" who don't have battle scars. Since the trend is toward producer/vendor alliances, it's hard for an outsider to break-in.
IMMM's technology sounds exciting, but no one I talked to was interested in hearing about it. I think IMMM'S going to have a tough time with oil producers. Fortunately their technology is also used for mining. Possibly that's where their greatest growth may come from.
As you know, I'm not an expert. These are purely my observations. Take this as social commentary, rather than investment advice.
One of my best friends is married to a 3rd generation independent producer. He remained independent. His brother went public. Drilling goes on throughout world. They're EACH worth somewhere between $200-$400 million. She manages the "Family" stock portfolio.
GOOD LUCK. Thanks for your help. Glad you recognized me.
Regards,
Cheryl
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