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Gold/Mining/Energy : Global Santa Fe (GSF) (formerly Global Marine)
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To: Elmer Flugum who wrote (2268)7/27/2005 12:35:52 PM
From: Robert Douglas  Read Replies (1) of 2282
 
Since many of these rigs are on long term contracts, I would think the higher dayrates would feed into higher earnings for quite some time. Even a rig that was signed up 6 months ago will enter a new contract 30% higher given today's rates. A year and a half ago, analysts projected GSF's earnings for 2006 at $1.50. Today the mean estimate is $3.04. If the SCORE index hits 100, which wouldn't surprise me, what will those earnings be?
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