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To: reaper who wrote (140740)	12/28/2001 10:35:01 AM
From: LLCF	Respond to of 436258

Simply amazing.... "made sense at the time"- I'm sure. DAK

To: reaper who wrote (140740)	12/28/2001 11:35:03 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

<<I expect the management team will get a special $20mm stay bonus to wind down AWA's operations as a reward for their fine financial stewardship of the company>> LOL! Seems to be the trend lately, doesn't it? Re: Your question on PTEN (valuation related to recent rig purcheses)...as you point out, they're more than just the sum of their rigs. If they bought fairly new rigs, those are worth more (much of the drilling equipment in the U.S. is long in the tooth, 'cause high prices were never really sustained long enough to get the cap equipment spending up high enough for replacement demand to kick in). They (PTEN) had a nice bounce though, and it might be prudent to put in some stop losses in if you're long here...