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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: dfloydr who wrote (44464)5/11/1999 9:26:00 AM
From: Big Dog  Read Replies (3) of 95453
 
Hey PorkChops, PKD reports a loss of 17 cents. Why don't you plug in the Altman numbers and see how the main sail sets.

First glance would tell me they have about 25 million in "cash" and interest expense is about 13 million per qtr, and they are losing money from operations. One bright spot -- they will put their new barge on the payroll for Shell Nigeria within a couple of months. (This barge is the one being built by OBI which was bought by UFAB. Delivery expected next month.)

The day rate on the barge was from "the old days" so it's a good rate. But it alone won't float the whole company.

big
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