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: RGinPG who wrote (18318)	4/7/1998 11:20:00 AM
From: marc chatman	of 95453

OT LOL, you read my thoughts. Actually, I've learned my lesson, but I don't think everyone else has. I'm holding and may buy more, so gear up for some real pain! On the more serious side, I did some more research yesterday on DO (in which I have a small position), and I think it may be the most compelling driller now on a valuation basis. The only real negative I see here is that they have a huge fleet, so any additions to their fleet will not add as much %agewise to their bottom line. But they have a good program of upgrading rigs, particularly the semi-subs. I also looked at a 3 year chart of Loewes Corp., and the Tischs' record for increasing the price of the stock over that period isn't too bad - almost a triple. DO is also at a relatively low PE compared to its historical PE levels. The first and second quarter estimates are for substantial year over year increases, so even at the same PE going forward, there should be some nice appreciation.

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