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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: Douglas V. Fant who wrote (1013)4/7/1998 12:12:00 AM
From: Czechsinthemail   of 2005
 
Looks like a non-event to me, although rumor that the company might be losing some contracts might have been responsible for some of the stock price weakness. I don't see any indication that the company will have problems contracting its rigs. I think there is a good chance the stock will rebound on a relief rally. The situation remains that either ESV is seriously undervalued or other drilling stocks are seriously overvalued.

I would guess that the issue is likely to be Coastal's reluctance to drill the project and ESV will contract with someone else without problem.

Baird
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