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

To: marc chatman who wrote (15979)	3/22/1998 9:52:00 PM
From: Byram	Respond to of 95453

South Texas Drilling & Exploration - Does anyone know about this company?? It has been brought to my attention and appears undervalued at 1.25. I checked around the industry and they appear to have 8 land rigs (diff. depths) and are booked pretty solid. I hear that they have good crews so I would think their earnings would justify a higher price/shr. Also, there were rumors, oil industry not brokers, that someone made a run at them for 3.50 - 4.00. Irreguardless of past rumors they have the rigs & crews - I would think they have a chance to be gobbled up by a large drill company.Any news would be appreciated.....PS - Pink sheet (STXD)