JDSancho

Dawson Geophysical Q1 08 Analysis and Valuation

Dan, I've alwakys enjoyed your thoughtful analysis of Dawson. I saw in their latest conference call they've added a 16th crew, some additional channels, and upped their authorized capital budget by $25M. Has your outlooked changed?

My estimates have DWSN earning $5.80 by 2010. Using the same P/E range as you did above, I think DWSN could trade around $100, giving us a 45% discount presently.