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Microcap & Penny Stocks : GW GREY WOLF
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To: Susan Saline who wrote (295)6/27/1998 7:41:00 PM
From: Jason Riche  Read Replies (1) of 444
 
I guess it will be back up in the time it takes the oil prices/barrel to go back up. I don't really see this stock being back in the $10 range anytime this year. However, I do think this stock is good because

For the FY ended 12/31/97, total revenues increased from $81.8M
to $215.9M. Net income applicable to Common totalled $10M vs. a loss of
$12.1M. Revenues reflect a higher number of rigs owned and available for
service due to the acquisitions, and higher average revenue per day. > > > > (*numbers from Lycos*)

This shows they have proven they can be a very profitable company. The price is near the 52 week low. Good volume. The company is expanding its rigs. They are also spending big money to refurbish some of their rigs. I think lots of uncertainty in the oil market is really killing this and other oil drilling(land and sea) companies.

Is that crystal ball shined up enough for you to see what the price will do next week? :-)

Jason
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