SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Wenzel Downhole Tools Ltd (WZL) - was Master Downhole
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: StockPro who wrote (28)4/2/1998 4:10:00 PM
From: Saverio  Read Replies (2) of 104
 
I'm still here...I gave a call to Don Barber last week to try and find out what results would look like (I don't know when they'll be released), but he was concerned about passing insider information to an outsider.
The purpose of my call was to find out whether there was anything special (besides the price of oil) that would explain the weakness in the share price. The answer was that the impact on their business was not as bad as people imagined. Some customers drill regardless of the price of oil, for self sufficiency reasons (e.g. China). And the oil price drop may lead people to better control cost, which may give them a relative advantage as it is less expensive to use smaller diameter tools.
I asked whether the overseas contract discussed earlier in the year had finally resulted in a deposit being finalized. The answer is not yet, as it seems that the customer is still discussing with its own customer. Don still believes that they are the preferred supplier. They have started to produce a small portion of the tools for inventory, in anticipation. He indicated that even if the deal fell through, it would be unfortunate but would not be the end of the world, as the shop was still fairly busy.
He was attributing the recent weakness in share price to the fact that Roche Securities were selling their position; in his view, it was to be a temporary dip (subsequent events seem to confirm).
I don't know why the big recent volume. That's all I have.
Cheers.
Saverio
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News