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Gold/Mining/Energy : HYDUKE Capitol Resources HYD

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To: CIMA who wrote (124)	12/15/2000 8:07:40 PM
From: SofaSpud	Read Replies (1) of 135

Thanks very much for the heads up on this. Useful, but ... I was disappointed with the content. I've had a position in HYD since '97 or so. I understand that service rigs can be expected to lag the general upturn, but I must say I was surprised with the last quarterlies, which didn't show evidence that the recovery was very far along yet. More commentary on this would have been appreciated, along with some projections about profitability. Babik said they have a 3 month backlog; if so, and given the projections for the most active drilling season ever, I would expect HYD to be going flat out. The last quarter wasn't indicative of that. I'm starting to get a bit frustrated, and have been meaning to call Babik, once I've spent more time with the financials. I'd appreciate comments from anyone who has already done so, to help me not waste his time and/or not make a fool of myself.

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