Cathedral Energy Services Ltd T.CET

Alternate Symbol(s): CETEF

Energy Oil & Gas Drilling

Cathedral Energy Services Ltd. is a Canada-based company, which operates in the United States (U.S.) under Discovery Downhole Services, a division of Cathedral Energy Services Inc., Altitude Energy Partners, LLC and Rime Downhole Technologies, LLC. The Company is involved and engaged in the business of providing directional drilling services to oil and natural gas companies in Western Canada and the U.S. Its services include directional drilling, drilling optimization, well planning and automated gamma services (AGS) and remote drilling. Its products include nDURANCE MOTORS, Measurement While Drilling (MWD), FUSION and RapidFire. Its MWD sensors collect data used to determine basic trajectory parameters, such as inclination, direction, and tool-face orientation. Its FUSION family OF MWD tools include FUSION Dual Telemetry (DT), FUSION WPR (Wave Propagation Resistivity), FUSION Gamma Ray (GR) and The Hawk. Its RapidFire family of MWD tools include RapidFire Pulse and RapidFire DT.

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Cathedral Energy Services Ltd > CET Q4 ,2020

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Comment by C32BTTon Jun 04, 2021 7:41pm

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Post# 33334957

RE:RE:RE:RE:RE:RE:CET Q4 ,2020

Depends on how you look at it though. They were using more cash than they were generating, so they had no choice unless you want them to take on more debt which isn't prudent at the moment. They issued the shares at the prevailing market price during that time which is supposedly for paying off the debt and reinvesting into more drill motors and mwd equipment. I guess you can take that as a positive sign and the Canadian side of the business is doing well.

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