Ensco International Inc. (ESV) Message Board

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Gold/Mining/Energy : Ensco International Inc. (ESV)

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To: steve harris who wrote (1992)	3/11/2020 11:28:33 AM
From: robert b furman	Read Replies (1) of 2005

Hi Steve, They dropped a blowoff valve yesterday to the bottom of the ocean!? off Angola. That is not good news, but it should cut half the value of the company. I'm thinking undersea robots can shag that back or first put another one down there. Maybe it'll extend their contract? It sure is not pretty. The crazy Saudi's and Russians are trying to kill shale in a market share grab. That will hurt international deep sea drilling more than our land based shale I suspect. My itchy finger went away - Thank God. Looks like I have burn blister on it now. It was always a lottery ticket. That being said, I'll not sell at these prices. If they make it - it'll be very long term as I always expected. Just did not think it would get cut in half 8 times. There is a lot of expensive gear out there - much of it will be put to work by sovereign oil interests. The smaller members of OPEC will continue to pursue oil exploration. Meanwhile Exxon keeps building their own fpso's (five to be placed outside Guyana alone) - someone is doing the drilling before those get put in place! Floating production storage and offloading Floating vessel used by offshore oil/gas industry for hydrocarbon production/processing/storage How and who that shakes out is the question. Valaris has the best jackup and the most modern deep water drilling ships - with a very interesting pickling innovative technology - that will draw demand by the fewer players out there. It looks like this is as bad as owning a semi maker in 2000. The only thing we can do is shake out heads and laugh at ourselves for getting here. What irritates me is all these gurus calling for the end of fossil fuels - they're living the dream only. Bob Bob

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