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COMPUTALOG LTD. ANNOUNCES RESULTS

 CALGARY, Alberta, April 22 /PRNewswire/ -- Computalog Ltd. of Calgary announced today the results of its operations for the three months ended March 31, 1993. All amounts are in thousands of dollars, except per share data.
 COMPUTALOG LTD.
 Financial Summary
 Three months to March 31, 1993 1993 Year ago
 Revenue $24,249 $16,344
 Operating income (loss) 4,729 (1,052)
 Reorganization costs 0 (500)
 Income taxes (16) (8)
 Minority interest 0 335
 Net income (loss) $4,713 ($1,225)
 Cash flow $5,582 ($237)
 Net income (loss)/share $0.17 ($0.05)
 Fully diluted net income (loss)/share $0.11 ($0.05)
 Cash flow/share $0.21 ($0.01)
 Revenues for 1993 have increased by 48.4 percent from 1992 levels, as a result of increased drilling activity and improved oil industry economics. Operating costs increased by 20.8 percent to accommodate the increases in activity, while general and administration expenses decreased 7.6 percent from those incurred in 1992.
 Computalog provides oilfield services to the Canadian, United States and International markets.
 -0- 4/22/93
 /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

KJ -- LA052 -- 9825 04/22/93 19:17 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
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