P Engr post on AOL
Date: Sat, Oct 4, 1997 12:57 EDT
From: P Engr
Message-id: <19971004165701.MAA18158@ladder01.news.aol.com>
Sorry that I can't find time to cover the board and answer all of your queries.
The board is definitely getting very popular---the number of daily posts have really
grown over time. It is impossible to answer all of the questions due to my time constraints.
I have been extremely busy----The Good times are here in the industry and require
alot of my time.
Attendance at the IADC (International Association of Drilling Contractors) annual meeting
this week in San Antonio was "standing room only" in many of the sessions!!
For all of your questions about what to do------
for those of you that have not-----go back over the past year and read my posts, some
are in the individual stock folders. The many posts will answer most of your questions.
This is going to be a VERY VERY Long bull market for the drilling contractors. Set your
sights 2-3 years out and Hang TIGHT. Use dips to add to your positions in my favorites.
(RIG, DO, NE, ESV, FLC, NBR, PTEN, UTI).
At present time, the two most relatively undervalued are RIG and NE. Strongly accumulate these on any pullbacks. For RIG---the strike is short term---(plus they will
be getting force majuere for the work stoppage). The worldwide shortage of the type
of rigs in RIG's fleet is going to be EXTREME for many many years (remember RIG
has more 4th generation semis, than any other company in the world and the cost
for newbuilds ($250-$300 million) coupled with the long lead times for construction
(3+ years out) will preclude a surplus. Likewise, NE's EVA's are "GEMS" and the
stock price is not addressing this---it is very much undervalued.
Enjoy The Rig Shortage(s)-------Accumulate and Hang Tight!!!!!
--Will post more if any change IMHO---or from time to time if conditions or queries
warrant----meanwhile, ENJOY The Moves!!!!!! And Thanks to many of you for your
very nice e-mails and posts------We've got a great group of FOOLS assembled on this
board!!!!!
P Engr. |
