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Microcap & Penny Stocks : GW GREY WOLF

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To: Scott Stents who wrote (49)	10/30/1997 7:16:00 PM
From: drsvelte	Read Replies (1) of 444

Beg to differ. If you use trailing 12 months earnings in P/E (which is a most acceptable form of valuation) the P/E is about 130. If you factor in the recently announced secondary offering of 25 mil. shares, earnings are further diluted and the trailing P/E is that much higher. If you look at projected earnings, the P/E is more reasonable, but for a land driller still high for me. (OTOH, PTEN has a high P/E and the stock has done very well.) Just too rich for me, I like the offshore drillers and some of the service stocks better. But as always, good luck with the "Woof," hope you do well. drsvelte

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