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: Gil Kempenich who wrote (2880)	11/12/1997 5:12:00 PM
From: bw	Read Replies (1) of 95453

Gil..I probably know more about PDE than some here, having researched the company..and investing in them for the last 10 months. They are a solid company with a very promising outlook. The company has moved their emphasis away from land drilling to deeper water with latest rig additions [&Forrestol-Foramer merger]. The stock is a good and stable performer, especially after the move to NYSE a few months back. Their low PE can be attributable to a higher than industry average of debt, and their still-lacking deepwater capabilities compared with NE or GLM..both good comparables to PDE. I would look to buy in the 20s, if possible [I liked them better at $17...] also..Latin America exposure could have an adverse impact, however, the company has stated that they are well positioned to counter currency fluctuations..

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