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

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To: GaAs52 who wrote (121413)	6/5/2009 1:19:00 AM
From: JimisJim	Read Replies (1) of 206114

Good pts... also remember the Santa Fe connections to Kuwait and a certain US family who took the US into Iraq twice, and the connections/history of Global Marine, the CIA, Kissinger and Howard Hughs... Just kidding... really... GSF jackups at least were of more modern origin and better maintained fleet than most... but your question is a good one: why'd Transocean, arguably one of the two best equipped tech/fleet/operators "diversify" into shallow water? At the time, jackups were already leaving the GoM for the ME. And now? Will RIG have to raise money to service the debt? Not so far, but I'm sure someone there has already considered selling some assets to trim the debt if/when necessary. The real fear at RIG (and others) is that PBR will make good on their intent to build their own platforms, FPSOs and E&P rigs... or at least a large percentage... they keep telling us at least 60% brazillian owned, operated or built/supplied is their target. So why DID Transocean buy GSF? Jim (disclosure: I still have a stub position in one PF in RIG from years ago)

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