Steven Reiman
Long/short equity, value, research analyst, small-cap

CWC Well Services: Update And Thoughts On Ironhand Drilling Acquisition

(Note: Investors looking to purchase shares in CWC should do so on the Toronto Exchange (CWC.V) where liquidity is higher than the OTC market)

(All figures in CAD)

I originally wrote about CWC Well Services (OTC:CAWLF) (referred to as "CWC" for the balance of this article) in July 2013 with the premise that the company generated strong free cash flow, was led by an able and financially savvy management team and was levered to a recovery in Western Canadian energy pricing. The intent of this article is to provide both an update on this thesis and some thoughts on the company's recently announced strategic acquisition of Ironhand Drilling,

Company Background

CWC is an oil & gas service provider

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