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Gold/Mining/Energy : NORTON DRILLING (nort nasdaq) FORMERLY DSIC
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To: TokyoMex who wrote (179)1/16/1998 7:03:00 PM
From: TokyoMex  Read Replies (1) of 295
 
Drillers are coming back in vogue..

* Dain Rauscher said in a research report that it had raised its
1998 earnings per share estimate for offshore driller GLOBAL
MARINE INC. to $2.03 per share from $1.93 and 1999 to $2.58. The
increase reflects increased dayrates for its rigs and contract
timing as well as order backlogs. Global yesterday reported 1997
earnings per share of $1.58 and became the first offshore driller
to earn more than $1.0 billion in revenues in a year. (Reuters
11:58 AM ET 01/16/98)

* Lehman Brothers raised its rating on shares of GLOBAL MARINE to
buy after the company reported fourth quarter operating earnings
of $0.49 per share versus $0.23 per share in last year's quarter.
Average day rates for firm's fleet were up 48% year-over-year with
rig utilization at effectively 100 percent, analyst Paul Chambers
said. Global Marine has targeted earnings growth of 33 percent
despite tripling its tax rate in 1998 and had a year-end backlog
of $1.2 billion, half of which should be completed in 1998.
(Reuters 01:00 PM ET 01/16/98)

* R&B FALCON DRILLING said it has renewed term drilling contracts
with Applied Drilling Technology Inc for eight offshore drilling
units that are operating in the U.S. Gulf of Mexico. The contract
rates will fall within the most recent applicable rate range as
specified in the Offshore Data Services rig price survey, but are
subject to floor prices. (Reuters 08:00 PM ET 01/15/98) For the
full text story, see
infobeat.com

NORT can grow well or can be a good take out candidate..

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