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: Razorbak who wrote (87571)	2/17/2001 1:14:33 PM
From: Sharp_End_Of_Drill	Read Replies (1) of 95453

Razor and PDB, I've been following WEL for about four years now and thought I'd throw in my two cents. I don't like them for two reasons: 1) The only part of the company that made money was Baylor, and they were forced to sell them off. 2) The restructuring left the management intact, and I believe their proven track record of failure will be proven yet again. Their valuation according to PSR is quite low, but I just don't see how they will be successful at turning much if any of the revenue into net income. Couple that will falling revenue numbers Q over Q due to losing Baylor and I just don't see anything compelling. Congrats on your scalp, what a great percentage for such a short hold. Sharp

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