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: Jane4IceCream who wrote (67498)	6/2/2000 11:56:00 AM
From: SliderOnTheBlack	Read Replies (1) of 95453

Freeway - re: ESV... It one of the mo-mo fav's and along with FLC perhaps the most leveraged to what is taking place in the GOM & best poised to rally when the Q2 earnings show the ramping of dayrates in the GOM - for the drillers; dayrates are like commodity prices for the E&P's. This will be the first real - fundamentally driven move based on bottom line dayrates,earnings/cash flow really turning the corner... and no longer "just" a rally based on "expectations" - GOM leveraged drillers could move HUGE off of Q2 reporting imo...now, we may only see "comments" that rates really turned late in the qtr, but analysts want to see & hear the numbers; before taking these companies to the next level and even if it will be Q3 before the get they benefit of a full qtr of ramping dayrates - the commentary of where dayrates have moved to will spark a nice rally imo to new highs...(again, one caveat - that the overall market doesnt tank off of the June Fed meeting info). The fav's - SII BJS WFT CAM et al have pulled back significantly - finally re-entering a nice buying range - only real risk is an overall market blow off in the near term and the majority of that risk will be both quantified & the markets reaction will be know very soon from the June Fed & Opec meetings... I just don't see favorable odds in making a "major" bet (going to high margin etc) before then...

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