| Balance Sheet for Union Drilling Inc. (UDRL) | | | | | | | Assets | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Cash and Equivalents | 20 | 20 | 2,388 | 3,871 | | Marketable Securities | - | - | - | - | | Receivables | 39,878 | 47,613 | 28,061 | 13,252 | | Inventories | 1,201 | 1,073 | 860 | 780 | | Other Current Assets | - | 2,144 | - | - | | Total Current Assets | 49,868 | 59,456 | 46,783 | 21,165 | | | Gross Fixed Assets | 323,034 | 256,422 | 167,034 | 75,075 | | Accumulated Depreciation | (105,675) | (69,338) | (46,251) | (32,760) | | Net Fixed Assets | 217,359 | 187,084 | 120,783 | 42,315 | | Intangibles | 2,069 | 2,472 | 9,222 | - | | Other Non-Current Assets | 103 | 496 | 700 | - | | Total Non-Current Assets | 227,440 | 197,962 | 130,706 | 42,315 | | Total Assets | 277,308 | 257,418 | 177,488 | 63,479 | | | Liabilities | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | | | Accounts Payable | 13,545 | 17,018 | 9,241 | 6,110 | | Short Term Debt | - | 2,508 | 6,588 | 3,770 | | Other Current Liabilities | 5,708 | 6,408 | - | - | | Total Current Liabilities | 29,076 | 32,443 | 21,182 | 13,094 | | | Long Term Debt | 14,170 | 27,810 | 5,812 | 4,135 | | Deferred Income Tax | 30,002 | 23,481 | 17,917 | 2,535 | | Other Non-Current Liabilities | 651 | 828 | 139 | 169 | | Minority Interest | - | - | - | - | | Total Non-Current Liabilities | 44,823 | 57,375 | 23,867 | 6,838 | | Total Liabilities | 73,899 | 89,818 | 45,049 | 19,932 | | | Preferred Stock Equity | - | - | - | - | | Common Stock Equity | 203,409 | 167,600 | 132,439 | 43,547 | | Total Equity | 203,409 | 167,600 | 132,439 | 43,547 | | Total Liabilities & Stock Equity | 277,308 | 257,418 | 177,488 | 63,479 | | | |
