NE, Noble Drilling Message Board

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Gold/Mining/Energy : NE, Noble Drilling

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To: Brian Lempel who wrote (139)	11/30/1997 11:45:00 AM
From: JBH	Read Replies (2) of 301

Hi Brian, I think the reason NE is undervalued right now is due to the submersible hulls that can be converted into ultra deep water semi's that are yet un-contracted or un-modified. Those hulls are the future for NE. Until the one's that are contracted go on-line next year and the others are contracted for the upgrades I don't believe Wall Street is willing to give NE the valuation. I'll be looking for a move up as things progress and look for NE to surpass the other drillers in the deep-water market. JMO Lucretious posted that NE still has around 800,000 shares to buy back but I cannot address whether or not or how this is figured into the future valuation. Regards, John

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