Saturday, June 06, 2020 12:45:24 PM
Years ago we would get all excited about the deployment of our equipment to clean up such spills while hoping that it would be the ultimate "proof of concept" required to propel the technology to be best of breed.
Nowadays, we barely shrug - the technology no longer belongs to us and the 3-year manufacturing agreement is on the verge of expiry. My hope was that Schlumberger (& affiliates) would make major volume orders so that they could either lease the equipment to their clients or deploy multiple units quickly in situations precisely like this one.
While I'm not certain, I think we have sold precisely one unit to them and, as it turns out, this was part of their purchase price (about which we were not informed until after the fact). I may be mistaken on this, so please correct me as required.
Meanwhile we have state of the art CNC capability with no backlog at all.
I can still remember when there was spill activity and our prospects got the share price over $1.00 - yesterday, with news of a huge spill, we couldn't even beat the 3 cent barrier. Of course, a new agreement and a 20 unit order could get us back on track ... and, if we were part of the (long-term) Arctic clean up, the best thing would be that, ultimately, Putin would be funding it!
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