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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: Grommit who wrote (1021)4/7/1998 2:10:00 PM
From: Wrig   of 2005
 
I knew that eps wouldn't decrease exactly the same percentage as the revs, but it was as close as I could guess w/out knowing what expenses are fixed/variable, etc.

I got my earnings info from Waterhouse Securities. I don't know who their source is. They forecast 58 cents for 1Q'98, and 62 cents for 2Q'98. I applied the decrease to 2Q, because that's the one we're in now and the one in which those rigs will be "idling". (we're still waiting for 1Q earnings though)

All I know is that the calls I bought just a couple days ago are now worthless. That sucks. <sigh> The last short-term bottom was 3/17, and ESV traded at under 25. Four trading days later, the range was 30 - 31 1/4. So maybe there is still hope. 6 trading days 'til earnings....
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