Big Dog's Boom Boom Room Message Board

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

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From: Big Dog	2/24/2005 8:50:58 PM
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As The Dog has been preaching the opportunity for newbuild jackups for ages, many are doing it now. Speaking with my associate in Singapore this evening, he reports there are no fewer than 15 jackups now under construction or ordered in Spore. When I was trying to get folks interested, we could have ordered one for $105 million...that same rig today goes for upwards of $135 million if ordered from the shipyard - probably more if bought from the guys who placed the orders (mostly smart Norwegians who aren't worried about what Wall Street thinks). But just watch...one or more of the drillers will start to buy these new rigs from the speculators who placed the orders...lots of money will be made. Such discussions are already underway. Next up will be shipyard orders for semis. ...the drilling rig is the most important tool of the first part of the 21st century. Things ARE different this time. big

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