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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Frank who wrote (64388)	4/12/2000 11:20:00 AM
From: Jane4IceCream	Respond to of 95453

Actually the one year chart for GW doesnt look too bad and in that time they have improved their financials. Arent land drillers laggards for the most part anyways? Jane

To: Frank who wrote (64388)	4/12/2000 4:03:00 PM
From: chowder	Respond to of 95453

Hello Frank! >> Any thoughts on why GW seems stuck here? << Yup sure do! GW was moving along nicely, I even made a couple of nice short term trades with them. Then about two weeks ago they came out with a 13 million share stock offering of $4 per share, when the stock was up to about 4 1/4 or 4 1/2, somewhere in there. The additional dilution scared off investors, including me for the short term, but they needed the cash. They plan on purchasing 5 top drives for further capital expenditures in order to put some idle rigs to work. The stock offering has hampered GW's progress, but the top drives should be beneficial to the company over the long run. If you don't mind parking cash, this one could be worthwhile. biz.yahoo.com Best of luck, dabum

To: Frank who wrote (64388)	4/12/2000 5:21:00 PM
From: jbe	Read Replies (1) \| Respond to of 95453

Why does GW seem stuck? Could it be because its financial state, which you say has improved, is still parlous? Here are some thoughts on the subject, which I posted here a few weeks back: Are there any buy-and-holders out there? If so, seems to me there is some reason to worry about the fundamentals of some of the oil service stocks (most conspicuously, Grey Wolf). Thanks to the drubbing they took over the past several years, such firms are in real financial trouble: negative cashflow, high debt, and/or negative (!) interest coverage. Take a look at GW. With a price/cashflow ratio of -103.2 (!), a debt/equity ratio of 199.7, and interest coverage of -1.4, no wonder Grey Wolf is doing what it can to keep another sort of wolf from the door!......