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

To: Big Dog who wrote (2433)	10/22/1997 9:47:00 PM
From: Bob A Louie	Read Replies (2) \| Respond to of 95453

Mike, I called GW last week and asked to be put on their mail/fax list. I just got their fax. Here's the deal: GW had net income of $2.7M or .02/sh compared to $0.8M or .01/sh in 1996 3 Q revs were $63.8M vs $22M in 96 Yesterday GW closed the acquisition of 9 drilling rigs as part of the 12 rigs to be acquired from Justiss Oil Co. If you read the last post from The Street.com:: "The fundamentals are playing out like deep-water a few years ago. Land drilling companies are in a much earlier inning of the ball game." Bill

To: Big Dog who wrote (2433)	10/22/1997 11:17:00 PM
From: drsvelte	Respond to of 95453

Mike and Bill: GW has about 1.4 mil shares outstanding. At 9 or so per share, this is a market cap of almost $1.3 Billion. P/E is way out of sight. Does futue EPS growth warrant this sort of valuation? Or has maybe GW got a bit ahead of itself? Or does "a rising tide lift all boats?" Your thoughts? Thanks to both of you for informative posts. drsvelte