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DRECO ENERGY SERVICES LTD. FOURTH QUARTER RESULTS

 DRECO ENERGY SERVICES LTD. FOURTH QUARTER RESULTS
 EDMONTON, Alberta, Nov. 20 /PRNewswire/ -- Dreco Energy Services


Ltd. (NASDAQ: DREAF; Toronto: DRE.A), of Edmonton, announced today the results of its operations for the fourth quarter and the year ended Aug. 31, 1991.
 Revenues for the fourth quarter were US $19,765,000 and net income was US $1,962,000 (US $0.32 per share) versus revenues of US $13,930,000 and net income of US $1,282,000 (US $0.27 per share) in the corresponding quarter of the prior fiscal year.
 Revenues for the year were US $77,653,000 and net income was US $7,402,000 (US $1.31 per share) versus prior year revenues of US $48,875,000 and net income of US $3,218,000 (US $0.67 per share).
 (in thousands of U.S. dollars except per share data)
 3 mo. ended Aug. 31 12 mo. ended Aug. 31
 1991 1990 1991 1990
 Revenues $ 19,765 $ 13,930 $ 77,653 $ 48,875
 Net income $ 1,962 $ 1,282 $ 7,402 $ 3,218
 Earnings per share $ 0.32 $ 0.27 $ 1.31 $ 0.67
 Weighted average shares
 outstanding $ 6,084 $ 4,811 $ 5,645 $ 4,811
 Cash flow from operations for the year was US $10,635,000 before working capital, investing and financing requirements as compared to US $5,615,000 in the previous year.
 Backlog as at Oct. 31, 1991 was US $23,626,000 as compared to US $16,576,000 as at Oct. 31, 1990.
 The company's Class "A" Common Shares trade on the NASDAQ National Market System under the ticker symbol DREAF and on the Toronto Stock Exchange under the ticker symbol DRE.A.
 Dreco Energy Services Ltd. designs, manufactures, markets and leases drilling equipment, machinery, and drilling tools used in the drilling and servicing of oil and gas wells, worldwide.
 -0- 11/20/91
 /CONTACT: Daryl W. Ferko, VP-finance, CFO and treasurer of Dreco Energy Services Ltd., 403-463-2065/
 (DREAF DRE.A.) CO: Dreco Energy Services Ltd. ST: Alberta IN: OIL SU: ERN


AL -- LA021 -- 5518 11/20/91 15:09 EST
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Date:Nov 20, 1991
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