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Strategies & Market Trends : Contrarian Investing

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To: jsabelko who wrote (184)	9/17/2006 10:12:49 AM
From: gcrispin	Read Replies (1) of 4080

Here are my thoughts after a quick look at udrl. One company on my watch list is GW. Both GW and UDRL have specialities. For GW it's deep drilling. For UDRL it's horizontal and underbalanced drilling. GW has a stronger balance sheet and has a lower enterprise value/EBIDTA ratio. One of the issues stressed in GW's Lehman's presentation was it's safety track record. URDL's website also stresses the importance, but their second quarter press release mentions an event that raises concerns about worker's safety. GW was founded in 1978 and UDRL in 1997. One of the items stressed by GW's CEO is that it takes ten years experience to become a good driller. In fact, GW has never laid off a driller during the down-cycles. I believe experience does come into play and would lean towards GW.

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