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: SliderOnTheBlack who wrote (67530)	6/2/2000 3:48:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

PTEN - "in play" - the Scoop... ...the word, scoop, rumor - whatever you want to call it: Dains downgrade on their lack of SCR deep drilling rigs is not the first time PTEN's heard this; give Patterson credit , they have not taken on a ton of new debt - in a window that just got closed to many companies here in this Fed Hike environment. But, the analysts AND the investment bankers (more important than the analysts) are pounding PTEN to either make an acquisition (GW ? who else has the needed SCR exposure that they could buy - TBDI ?), or to take on debt - buy the rigs, or ----- drum roll please: ... to maximize shareholder value & sell the company into a peak cycle environment while Nat Gas Prices are at an alltime high... rumor (they are all rumors untill its done) is NBR is/will be the suitor. PTEN - runs thru $30+ - they'll close/announce when NBR is up around $48ish come Septish - on an OSX fall rally... watch PTEN get taken out for stock - .75 to .875 shares of NBR rumored for ea PTEN share. We shall see, regardless of any takeout rumors - triple bottom - 50% upside to its prior high, now back to pre-march oilpatch rally prices ! - the selloff from Dain's comments is beyond overdone... scroll down & buy it !

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