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: Broken_Clock who wrote (21359)	5/4/1998 7:56:00 PM
From: Elmer	Read Replies (1) of 95453

Papaya, KEG's B/S is a little deceiving since over $200 of its debt is in the form of 5% subordinated convertible debt. KEG also has about $100 million in unused bank debt at its disposal and the company throws off some fairly decent free cash flow. However, it still is relatively more leveraged than some of the other companies in the industry and will probably remain leveraged given its aggressive consolidation of the well service & workover segment of the industry.

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