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

To: Bob A Louie who wrote (2981)	11/14/1997 3:47:00 PM
From: james paterson	Respond to of 95453

Thread, Just to give you an example of the incredible revenues the drillers are doing these days. I talked to PDS's CFO this morning to try to get a feel for earnings expectations & asked him about the condition of their rigs, as well as how many new ones that are under construction (6). Pds has 206 rigs some costing as much as 16 mil Cdn. They have quite a few slant rigs. Anyway, he mentioned that they have a few old rigs including 1 that was built in the 50's. That 1 particular rig is on their books for 100,000 & will bring in over 1,000,000 this year. Apparently because of the climate in the Cdn west the rigs last indefinitely, unlike the southern U.S. where the climate is more hostile because of humidity etc. He expects to easily meet & probably exceed analysts earnings forecasts for this Q, due mid Dec. James