Thanks everyone.
Yes, currently the outlook is bleak - but that being said, the N. Sea is not the be all and end all of the rotary world, a big part, but not the totality. I believe one of the bigger factors to consider, is that good ole Liz is not supplying as many drivers to industry as she has done in the past, so by my rough maths, there will [eventually] come a skills gap, skilled aviation jobs (pilot & engineer) has always had a problem with an aged workforce, but this has usually been offset against the military being a good source.
I currently have my own (aviation related) business, of which I am a director, the long term plan is to get a CPL, take a back seat from the business and leave it to my staff, whilst flying somewhere in the world for an income.
I have been an engineer in the industry for a long time, now I want to take to the skies myself - the industry has gone through these cycles many, many time - yes it will be a ****storm for the next 18mths - 2 years, but the optimist in me says that the sun will come out after that.