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: diana g who wrote (45981)	6/7/1999 11:40:00 AM
From: upanddown	Read Replies (1) of 95453

Anyone out there familiar with offshore taxes who can analyze the effect of the Caymans reorg on RIG's bottom line ? In Q1, RIG had an effective tax rate around 30% paying around $35M taxes. Since they have approx 100M shrs outstanding, easy to figure the tax effect on Q1 earnings as .35. I guess the question is what would taxes have been in Q1 if RIG had reorganized before the start of 1999? Q1 report.......... biz.yahoo.com John

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