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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Frank who wrote (22947)	5/23/2003 9:07:00 AM
From: jim_p	Read Replies (2) of 206209

Frank, The well service business is the bottom of the barrel in the OS business. It's a very tough business that is very competitive (still a mom and pop business in many areas). The quality of the labor is very poor (ex-cons and mostly white trash). Workers comp is a killer for most in the business. Labor is the highest operating cost followed very closely by workers comp expense. Due to the low quality of labor, many of the workers would rather stay home and collect workers comp than go to work. Any business that is both capital and labor intensive is a difficult business. Others have tried to consolidate the sector in the past (Well Tech sp?) and failed. I like KEG, but don't expect any dramatic increase in future earnings. Jim

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