Pitts is right but....
If the stock price is related to the oil price, then by default it should rise if the oil price rises.
On TV now is the Russian Energy minister saying that next month the OPEC countries and Russia are having a get together to talk about a co-ordinated 5% cut in output. And low and behold Brent crude is up 4% and so is CHC.
use the 'Add Comparsion' function on Bloomberg to see exactly how HELI is performing vs other stocks in the sector. The valuation is still in the toilet but it's not faring significantly worse than a lot of it's peers, it was just starting from a lower base!
HELI:New York Stock Quote - CHC Group Ltd - Bloomberg Markets