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

To: dfloydr who wrote (44464)5/11/1999 9:26:00 AM
From: Big Dog  Read Replies (3) | Respond to of 95453
 
Hey PorkChops, PKD reports a loss of 17 cents. Why don't you plug in the Altman numbers and see how the main sail sets.

First glance would tell me they have about 25 million in "cash" and interest expense is about 13 million per qtr, and they are losing money from operations. One bright spot -- they will put their new barge on the payroll for Shell Nigeria within a couple of months. (This barge is the one being built by OBI which was bought by UFAB. Delivery expected next month.)

The day rate on the barge was from "the old days" so it's a good rate. But it alone won't float the whole company.

big



To: dfloydr who wrote (44464)5/12/1999 11:16:00 AM
From: Ken Robbins  Read Replies (1) | Respond to of 95453
 
<MEXP: Help if you can with some numbers please.>

Don't really have any concrete numbers. My contact related the stories on 3 or 4 fairly recent dry holes. I had been thinking about buying some MEXP, but decided not to after talking with him.


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