Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Sharp_End_Of_Drill who wrote (25274)	1/10/2003 12:02:00 PM
From: Frank Pembleton	Read Replies (2) of 36161

Sharp... from here I like it a lot-- it's historically cheap, it trades at less than 2x book, it's a whole heck of a lot cheaper than Tesco and they've diversified some of there operations out of Canada. - - FWIW, the weather is absolutely unbelievable-- one day it's minus twenty Celsius the next, plus ten. There's practically no snow-- so despite the fact that it's January, building ice roads across the swamps might be a no-go as far as I can tell. Which clearly supports Isopatch's view about earnings or the lack of, for this sector. I've also been checking the want ads in the local newspapers for machinists and no one out there is hiring. So drilling has to be at a minimum. In my shop we have very little happening in the way of natural gas compressor business. My Dad who has a heavy equipment rental business has a whole yard full a pipelayers sitting idle -- and just laid off 2 welders. The last time I drove out to Nisku-- both the pipe yards and the rig fab shops are essentially running with skeleton crews. Anyway... my view from Alberta. Regards, Frank P.

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