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SEC Filings

KEY ENERGY SERVICES INC filed this Form S-4/A on 03/08/1996
Entire Document

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n/a - Not applicable to interim periods.

          (1)  Income before extraordinary item, reorganization items, interest,
               taxes,  depreciation  and  amortization.  EBITDA  should  not  be
               considered  as an  alternative  to operating  or net income,  (as
               determined  in  accordance  with GAAP),  as an indicator of Key's
               performance  or as an  alternative  to cash flows from  operating
               activities  (as  determined  in  accordance  with  GAAP)  or as a
               measure of liquidity.  (See "Management's Discussion and Analysis
               of Financial Condition and Results of Operations of Key .")

          (2)  Fixed  charges are the sum of (i) interest  costs,  (ii) interest
               component of rent expenses,  and (iii)  amortization  of deferred
               financing costs.

          (3)  Earnings  per common  share for the five  months  ended  November
               30,1992 and prior period,  reflect the previous capital structure
               of Key Energy Group,  Inc.  (previously  "National  Environmental
               Group,  Inc.") prior to the 1992  Reorganization Plan and are not
               comparable   to   subsequent   periods.   See  Note  3  to  Key's
               Consolidated  Financial  Statements  for the years ended June 30,
               1995 and 1994 and for the seven  months  ended June 30,  1993 and
               five months ended November 30, 1992.