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 (57299)	12/23/1999 4:45:00 PM
From: Brent Hogenson	Read Replies (1) of 95453

The one thing I don't understand about this SLB - RIG gig is why didn't SLB sell off December 20th. If that was the record date, SLB shares should now trade without the benefit of getting the spin off. So theoretically, SLB should have opened down about 5 points on Dec 21st. Had I known this was going to happen I would have bought a lot of SLB for one day. I still don't think we get the sell off that everybody is anticipating. The S&P funds are now going to be net buyers of RIG since it has been added to the index instead of sellers. Everybody remembers when T spun off LU and what happened. I say RIG is in the upper 30's by this time next month. RIG is going to do close to $4 a share cash flow this year at the bottom of the market. In a couple of years they could be doing $8 to $12 a share cash flow. This stock is heading back to the 60's. We will have our day in the sun next quarter when the world is begging OPEC to open the valves.

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