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COMPUTALOG LTD. ANNOUNCES RESULTS

 CALGARY, Alberta, March 9 /PRNewswire/ -- Computalog Ltd. of Calgary (Toronto: CGH) announced today the results of its operations for the year ended Dec. 31, 1992. All amounts are in thousands of dollars, except per share data.
 COMPUTALOG LTD.
 12 Months to Dec. 31, 1992 1992 Year ago
 Revenue $57,889 $77,155
 Income (loss) from continuing
 operations before reorganization
 costs and investment earnings (7,380) (11,125)
 Reorganization costs (1,410) (19,252)
 Equity losses 0 (108)
 Gain on sale of investment 0 7,139
 Total (8,790) (23,346)
 Income taxes (164) (4,068)
 Minority interest 337 191
 Net income (loss) from continuing
 operations (8,617) (27,223)
 Loss from discontinued operations --- (1,557)
 Net income (loss) (8,617) (28,780)
 Net income (loss)/share
 -- Continuing operations ($0.32) ($1.01)
 -- Total ($0.32) ($1.07)
 Three Months Ended Dec. 31, 1992 1992 Year ago
 Revenue $17,411 $15,104
 Income (loss) from continuing
 operations before reorganization
 costs and investment earnings 750 (3,645)
 Reorganization costs (577) (2,167)
 Equity losses 0 (81)
 Gain on sale of investment 0 7,139
 Total 173 1,246
 Income taxes (77) (37)
 Minority interest 2 164
 Net income from continuing
 operations 98 1,373
 Loss from discontinued operations 0 (42)
 Net income (loss) 98 1,331
 Net income (loss)/share
 -- Continuing ($0.00) ($0.05)
 -- Total ($0.00) ($0.05)
 Figures in brackets are losses.
 Net income from continuing operations for the fourth quarter of 1991 included a gain on the sale of investments of $7,139.
 Revenues for the year have decreased 25 percent from 1991 levels, while operating costs and general and administration expenses have been reduced by 28 percent. The reduction in the company's cost base has resulted in a 33 percent reduction in the net loss before reorganization costs from 1991.
 Computalog provides oilfield services to the Canadian, United States and international markets.
 -0- 3/9/93
 /CONTACT: Glynn G. Davies, COO, or Leonard A. Cornez, corporate controller, of Computalog, 403-265-6060/
 (CGH.)


CO: Computalog Ltd. ST: Alberta IN: OIL SU: ERN

JB-JL -- LA029 -- 4704 03/09/93 17:42 EST
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Date:Mar 9, 1993
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