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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: Czechsinthemail who wrote (731)2/4/1998 4:03:00 PM
From: jim p. holcomb  Read Replies (2) of 2005
 
Baird, Bill Li and all ESV faithful,

I did not get to visit with ENSCO personnel while in Dallas last weak due to business commitments; however I did speak with Richard LeBlanc, the investor relations manager this date and he related that the two rigs that were working offshore India at very cheap dayrates are now in the shipyard in Singapore for upgrades with new top drives, etc. He also stated that the dayrates in the GOM are still rising and in the first quarter (this qtr.) they are up 5000 to 7000 versus last qtr. Also there are no plans to repurchase shares at this time. They still have 100 million of the shelf registration left and also 200 million profit from 1997 to invest. He feels that ESV will move with the world market price of oil as will all offshore drillers. The North Sea rates are still rising steadily and the rigs that were in India will be sent there after the upgrades. He said the day rates in that area " are approaching $100,000 per day". ESV is up good today around 30 which is a lot above their recent low of 24 1/16. Keep the faith, we will hit that projected 55 sometime in the next 12 months. Jim.

P.S. He said the supply boat business is running at full capacity.
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