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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (2756)11/5/1997 11:28:00 PM
From: CrabDaddy  Read Replies (3) of 95453
 
Sorry Mike, I am a victim of our largely misguided press. My post was poorly written though and my basic question was lost in the incorrect
driller reference. You have taught me well, don't despair. Hell, I own damn near everything you've plugged on this thread.
But I still have 2 questions:
1. How many barrels of oil come out of an average hole on an average day (offshore). Ballpark, of course.
2. Would it make sense for a major oil co. (AN, XON, ELF) to buy one of these companies (NE, GLM, DO, etc.)? If nothing else it would probably be considered a very good use of cash as far as investments are concerned.

Thank you in advance for your input - following your advice has made me a fair amount of money so far and things only look better. FGII may pay for my kid's college.

Merrill Lynch is quietly rising their price targets on some of these stocks. NE blew through their $31 target and instead of lowering their rating to neutral, they simply raised their target to $38 (without upgrading the stock). They also said in their report that "NE should experience the fastest earnings growth among the premium offshore drilling contractors". Agree?
I normally don't have a lot of respect for major brokerage analysts,
BUT... it was a friend of mine at Merrill who got me into GLM and NE for around $5/sh. each. I feel humbled by such brilliant advice.

Good Investing,
CDad

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