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: 007 who wrote (22302)	5/18/1998 8:53:00 PM
From: Czechsinthemail	of 95453

007, My apologies for any mistakes on MDCO's fleet and Indonesia. I had run across that reference somewhere in a discussion of MDCO. Perhaps it is off base. The estimates I was looking at were $1.68 for this year with quarterly comparisons of $0.36E vs. $0.25A for this quarter and $0.41E vs. $0.31A for next quarter. That's 44% growth this quarter and 32% next quarter. Coming on the heels of a the weak quarter, these don't seem as strong to me as some of the other drillers. ESV, for example, trades with a lower PE yet is estimated to earn $0.60E vs. $0.37A this quarter [+62%] and $0.63E vs. $0.48 next quarter [+31%]. Eventually, when their semi comes on line, they will presumably pick up their growth rate, but I'm assuming a strengthening of oil prices by then that will show better growth for jackup rigs. What I like best about MDCO is their balance sheet and the emerging position in deep drilling at a relatively low PE, and I'm considering buying more on that basis. good luck, Baird

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