Hey Oilman.. hope you are well. I've been away on holiday (or vacation as you would call it), so not been on here for a while. Just catching up on your messages.

Yes I would say that given the position the company was in just last year it was actually a reasonable 1st quarter for them all things considered.

On first glance the headline revenue numbers when compared to previous years didn't read so well, but I'm satisfied with the explanation and the fact that they will soon be realised in the next quarter. So 2nd quarter is looking very promising indeed.

Great to see the efforts in controlling costs are paying off... the CFO has executed this part of the strategy very well I think. And as you say they are now more focused on aquiring new customers... so that's great too. It would also appear that the Hybrid LPG and fluid customizations are potentially proving to be a big hit with customers new and old alike (this could potentially be very profitable for Gasfrac especially if these methods can be deployed with great effect in bigger frac jobs).

All of which are in line with the objectives the company set itself towards the back end of last year. So as far as I'm concerned they are at least doing what they said they would.

i) bring the company’s cost structure into alignment with current revenue.

ii) enhance their service delivery capabilities.

ii) broaden their customer base.

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I thought the earnings call was good as well, it appeared to be more positive than the last conference call - James Hill appeared to be more sure of the direction they have chosen to go in than when perhaps he last spoke.

And yes very pleased with the response in the share price on the back of this earnings report and conference call.

There's a long way to go of course but at this stage I've no reason to have any real complaints with everything I've seen and heard. So far so good.

Now just looking forward to the 2nd quarter results and awaiting the board's decision on the new CEO.

MT