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: Olaf Koch who started this subject	2/7/2001 1:05:28 PM
From: Meridian	Read Replies (1) of 95453

STXD - South Texas Drilling, OTC-BB - $3 1/4 ... this land rig company should have $60 mm in revenue this year, $75-$80 mm in 2002, and possibly peak of $100 mm (may be a stretch). Company has $12 mm in debt and 14 mm shares out. Enterprise value/Sales = 1.0 versus 3-4 for competitors. My bet is that we'll see peak net margins at 10% minimum, so that's Peak earnings of $0.70/share. The company lost money on a turnkey contract last quarter, so the margin was pretty crappy. At 15X forward earnings we could see a stock price in 2002 north of $10.00 - a pretty nice gain from $3.25 today! Does anyone else follow this one?

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