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: SargeK who wrote (58210)	1/10/2000 2:49:00 PM
From: SliderOnTheBlack	Read Replies (2) of 95453

Any seeing DO as the most undervalued offshore driller here ? Comparing 1997-8 prior cycle prices, given their balance sheet - options this gives them etc. $26-28 DO is looking real cheap compared to its peers. Pretty low risk - given their replacement value, balance sheet - cash position. When their contracts rollover in an up dayrate environment - late 2000 on; these guys get their EPS estimates dramatically revised upward. Watching DO on dips here... boring ole' DO has become the red headed step child of late.

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