Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Lucretius who wrote (17610)	4/2/1998 6:00:00 AM
From: JZGalt	of 95453

I don't mean to be too harsh, I just think there are MUCH better opportunities in another area of oil service. Time will tell, but generalities will kill you. Like you, I wouldn't touch HMAR and TDW in the boat area. However, I do have a considerable stake in TMAR. As far as I am concerned, it has many things going for it that I like. 1. Consolidator in the field. 2. International in scope. 3. Bought the _best_ in the area in which it didn't compete. 4. Insiders buying at or near the recent lows. 5. Stake in the company by Michael Price's group. 6. Low p/e. 7. Analysts estimates all over the board. 8. Company acting and thinking long term by doing major upgrades on boats as they come in for overhaul, so they won't need expensive downtime later. 9. Extending dayrate contracts into longer term contracts for more stable cash flow. You probably will be correct that in hindsight TMAR will not perform as well as some of the drillers, but this is _easy_ money. BTW, I'm long NE, MDCO and FGII as well, so I won't cry if I'm a little wrong on the outcome 2 years from now.

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