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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: rz who wrote (29)	3/20/2001 9:06:18 AM
From: Frank	Read Replies (2) of 206338

rz--COD is building two rigs for about 110 million each. They have 65 million each from MARAD in guaranteed debt so they are in great financial shape. Dayrates were about 66k first quarter but are expected to be well over 70k in second half as adjustments are taking place each month--COD took no long term commitments and benefits from a rising dayrate climate. I have two positions in COD and will buy more on any dip- only problem is they only have three rigs working right now so an accident would have a significant impact---Frank

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