What I find odd is the fact that the BOD did not reduce the dividend at the time of the announcement back in October. If they were mislead in any way at the time about PSN's financial situation, then the CFO should have been fired by now. What I also now find interesting is that the Chairman of the Board is now more involved in the day to day operations of the company.  This tells me that something else is now going on behind the scenes...

 Keep in mind that PSN is more of a full-service provider of fluid handling systems. Their systems are simplier and I would assume alot less labour intensive. Having PSN under your roof would give a drilling company an advantage over the competition. I would assume the big guys are now kicking the PSN tires...

Kherson