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Microcap & Penny Stocks : GW GREY WOLF
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To: Patrick J. Saunders who wrote (330)12/13/1998 4:13:00 PM
From: E.B.  Read Replies (1) of 444
 
Patrick,
S&P and Moody's are reporting what the industries already called and what is already included in the GW Q3 report. GW has down shifted their employees and cold stacked some rigs. They are cutting their costs to do business and holding out until the prices go up. Their most recent low was in the $.60 range. They may slip back down there because they, like many of the smaller oil rig leasing operations, are more at risk to this exposure because the companies that contract them will eliminate the outsourcing before cutting back on their own staff. GW is the cut outsource. Just my thoughts.

Eric
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