Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Jon Cave who wrote (54958)	11/17/1999 4:40:00 PM
From: Wowzer	Read Replies (1) of 95453

According to the 9/30/99 10Q MDR has cash and investments of $512 million or $8.62 a share 512/59.4 shares outstanding. This is documented in the 10Q and AFTER MDR's $500 million purchase. How they got to 55 million is when MDR netted out total debts. Never seen it done that way before. Why are they netting out debt in their press release, confusing to say the least. When in reality they have $512 million on hand to cover operating expenses etc.

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