Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Flan who wrote (2533)	10/29/1997 8:24:00 AM
From: Bob A Louie	Read Replies (1) of 95453

I agree with your assessment of NE. Smith Barney is very high on NE, rates it a #1 - strong buy. They raised their target price 3 times since August and now have a target of $53 using a very conservative multiple of 16X earnings. NE is currently transitioning from shallow water and land driller to a deep water player. NE is in the process of converting 3 of their 8 submersibles to deep water semisubmersibles and estimates that if all 8 were converted, NE could conservatively earn $6/share. Of all the drillers, I believe NE has the greatest potential for share appreciation. IMHO. Bill I must have hit the wrong key, sorry for incomplete previous message.

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