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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: dougjn who wrote (3431)11/21/1997 12:23:00 AM
From: Bazmataz  Read Replies (2) of 95453
 
RDC is well positioned. I wish I had kept an article I read in the Rhode Island Journal about a week or two ago. It was a full page article about the industry and how Rowan is essentially the only company betting big on the future of the industry. It detailed their jackup rigs, how they are by far the largest producer of these rigs, and how they are taking quite a risk by investing huge in these rigs now, before having contracts or commitments. In their favor, they said RDC has very saavy and seasoned leadership, and this bet (on the future of their jackup rigs) could turn out to be tremendous. They didn't comment too much on the stock price, but sounded extremely bullish on the company. I've owned it since around May and have happily watched it double. These past few weeks have seen a trading range, but no technical damage has been done at all. If it fell below about 33, some technical damage will have occurred, but for now all looks good.

I think Rowan has a "niche" and is truly uniquely positioned to earn money in a way no other company can. True, they don't operate true deep water drillships like RIG and DO, but to have a niche and excel at it is what makes great companies great. Just one man's humble opinion.

Any comments?

BC
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