FLC Falcon Drilling Message Board

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Gold/Mining/Energy : FLC Falcon Drilling

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To: diana g who wrote (37)	2/27/1998 1:16:00 PM
From: Czechsinthemail	Read Replies (1) of 461

diana, In addition to the possibility of reduced earnings due to merger expenses as mph pointed out, FLC may be vulnerable to a revaluation based on the composition of its fleet. While it has a large number of deep drilling floaters, much of its fleet is engaged in transition zone and shallow water drilling: rbfalcon.com Since most of the shallow drillers trade at lower PE's, some investors may be rethinking FLC's multiple compared with RIG, for example, which has a higher percentage of its fleet in deep-drilling floating rigs. Does anyone have First Call estimates for FLC? I saw the Zacks consensus for 1998 is $2.19, but there was no estimate for next year. good luck, Baird

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