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Precision Drilling Corporation Message Board

  • DreamMaster5_4 DreamMaster5_4 Sep 17, 1999 9:17 AM Flag

    Fiscal year end changed

    Yes,...PDS missed expectations of (Zero) vs (-a
    nickel), it really does not amount to very much, because
    it was weather related.
    On the positive side the
    company has changed its ending date for the fiscal year
    to December 31st., and this would help correlate
    earnings comparisons with other stocks in the sector.

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    • A buy signal was generated on the point and
      figure charts on 3/7/00. Since then we broke a double
      top point and figure pattern on 5/5/00 at 35.00, we
      have since corrected the move back to the double top
      support, momentum is positive and the next target lies at
      42.00

    • On May 8, 2000, Precision Drilling Corporation
      announced its intention to commence an unsolicited
      take-over bid to acquire all of the issued and outstanding
      shares of Plains Energy Services Ltd.
      As a result of
      the public announcement by Precision Drilling. In
      order to provide Plains Energy's Board of Directors and
      the Independent Committee the opportunity of
      reviewing the formal offer, if any, to be mailed by
      Precision Drilling pursuant to their announcement, the
      Board of Directors has determined to defer the
      Separation Time of the rights arising under the Shareholder
      Rights Plan until May 29, 2000.

      Plains and
      Peters & Co. Limited have now opened a data room and
      have been contacted by several qualified U.S. and
      Canadian attendees to review the information contained
      therein, as well as to attend field and facilities tours
      and meet with key management personnel.


      Plains is a leading integrated oil and gas service
      provider, focused on the practical application of
      technology throughout its operations in drilling, wireline
      services, downhole tools, well servicing, production
      testing and underbalanced drilling.

    • I knew if I kept at it I could get a worthy rtesponse from you.

      the coffe may be closer than you think.

    • Phuber,...my humble response includes the
      following: (1) PDS larger financial base will make it
      possible to expand the wireline services of Plains: (A)
      faster than Plains could have done by itself. (B) The
      casing inspection tool of PDS will expand the Plains
      wireline cased hole services offerings to customers. (C)
      Also PDS technology in open hole services will provide
      a more complete array of services to customers at
      selected locations. (D) And will Expand the geographical
      distribution of services by Plains through PDS (Computalog)
      Canadian, U.S. and international presence. (E) Also
      synergies would be derived in R.& D. manufacturing,
      fabrication, supplies, etc.
      I agree with your initial
      concern that being that PDS may choose to pay down debt,
      rather than to expand the wireline scope of services,
      personally I do not think that one precludes the other, and
      as you know you got to spend money to make
      money..(smiles). Hope this helps, I'm currently waiting for
      Computalog to hire me in either operations and/or sales, and
      would welcome that cup of coffee you so kindly invited
      me to.

    • for an intellegent argument from you to support
      your claim that "...the financial muscle of PDS will
      expand and create new opportunities.....". In a previous
      posting, you asked me for my opinion regarding the PDS /
      PLA fit, and I gave my opinions with supporting
      arguments. If you do not agree with my position, please
      respond with solid arguments on your position. Simply
      stating SLB redeploys, upgrades,etc is no arguement. PLA
      has been doing this internally for years, and like
      SLB, C-LOG, HAL, etc, has been successfull at it.
      After all, wireline trucks have wheels under them, and
      are meant to travel...anyone will put them where the
      work is.

      Waiting patiently....

    • Schlumberger is living proof that there is safety
      in numbers and that units are movilized periodically
      to be outfited with newer equipment, to be
      maintained and at times redeployed to meet demand thereby
      returning a fair profit for the company, is there something
      new about this concept in your opinion.?. All
      wireline major companies do this on a periodic basis. i.e.
      SLB, HAL and Western.

    • On your next message, If you know me, call me by
      my real name, and sign your reply by something that
      does not spell out like Man Bonkning, and then let's
      get together for coffee. You state the "units can be
      redployed...." I assume you know what you are talking
      about....prove it.

      What are your argruements regarding
      PD(S) gaining market share throughout this attempeted
      takeover? You've listened to mine, now I want to hear
      something concrete from your point of view.

      If you
      don't have anything worthwhile, maybe somebody else can
      carry on this little conversation.

    • Phuber,...with out a doubt there is safety in
      numbers and Shlumberger is living proof, also the units
      can be redeployed to where demand offers greater
      opportunity.
      Agree the patents of the coiled tubing
      technology are a very important, but let us not minimize the
      contributions that the other segments such as cementing,
      stimulation, wireline, slick line, fabrication facilities and
      the personnel of Plains can make.
      Yes with out a
      doubt the financial muscle of PDS will help expand and
      create new opportunities globally as well as domestic in
      years to come.

    • I agree that PLA would be a good fit for PD in
      amany areas, however, the fit will not be as good as
      most think. First, regarding your comment on packaging
      of services....many companies have tried this, or at
      the least offer this to the oil operators. Some of
      these companies include Halliburton and Schlumberger.
      However, having worked on the operator side, I can tell
      you that packaging of services is not all that well
      recieved, especially from the mid sized to major operators.
      The juniors typically use the cheapest service they
      can get, and this does not come from the bigger
      servcie companies. Secondly, PD will still not able to
      "package" many services. Athough PLA has a cementing and
      fracturing/acidizing division, this is only operating in the States.
      PD will have no such division in Canada, which is
      where the majority of the PD and PLA business is.
      Third, (48 PLA units is a little high ...they have 45
      electric line and slick line units on the road),
      Computalog will most likely lose on the combined market
      share. A combined total in excess of 90 cased hole units
      for one company is too much for the market, and the
      operators will make sure that the smaller independants keep
      Computalog honest regarding procing and service supply. This
      alone will remove market share from C-Log. Combine this
      with the the fact that many smaler operators prefer to
      use smaller, local independants for a good portion of
      their business, and the market share shrinks even more
      as PLA's customers turn elsewhere.



      Underbalanced drilling will be aided by Entest, however, since
      I do not know this side of the business, I will
      withhold comment.

      The only true positive here for
      PD is the acquisition of the Coiled tubing drilling
      business. (PLA just announced successfull testing of their
      next generation CTU--the Cisco 2000). While PD has
      stated they have plans to roll out some of their CTU
      units this year (2 or 5 ??), they have not yet been
      able to get them on the road and working. Therfore, by
      purchasing PLA, they have ready access to a proven
      technology that is gaining market share.

      Regarding
      helping PLA on the domestic and international markets,
      no, I do not believe the "financial muscle" of PD
      will help. PD's international market is not all that
      large, and domestically, I have already stated that
      because of the new combined size for Computalog, domestic
      market share will decline.

    • Phuber,...Thank you for your information in your
      recent posting, PDS does leads the field in several
      areas including: (1)under-balanced drilling and (2)
      cased hole wireline business, the 48 wireline units
      from Plains would enhance its position, along with
      Plains Coiled tubing drilling technology, and the
      broadening of services including Plains cementing and
      fracturing services would also allow them to package the
      options to clients in to one contractor, would you not
      agree that the financial muscle of PDS would help
      Plains efforts domestically as well as
      internationally.....?.

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PDS
6.34-0.38(-5.65%)Jul 1 4:06 PMEDT