The Latics' progress has been hindered by a reduced budget, injuries to key players and wastefulness in front of goal, leading to a dip in attendances.
The key will be having the likes of Chris Taylor and Pawel Abbott available on a regular basis if Penney is to send the club on an upward curve.
HEADMASTER'S REPORT: Although the league position does not make pleasant reading, it is difficult to fully assess Penney's performance as injuries mean he has been unable to field his strongest side this season.
STAR PUPIL: Sean Gregan is back to the imperious form he displayed in his first two seasons at Boundary Park and has led by example.
MOST IMPROVED: By his own admission, Sean Gregan had a poor 2008/09 season but is back to the form which makes him one of the division's best defenders.
NEW BOY: Pawel Abbott stepped into the void created by Lee Hughes' departure to lead the club's goalscoring charts before a hernia injury.
LATICS' MARK: 6/10
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The budget has not been reduced. This report is inaccurate from the off. Six out of ten? You must be on acid. Dave Penney is staking his claim for the award of worst manager in Oldham Athletic's history.