Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Czechsinthemail who wrote (14649)	3/12/1998 5:58:00 PM
From: 007	Read Replies (4) of 95453

Baird, thanks for your response regarding ESV/MDCO. Baseline puts the p/book for ESV at 4 and MDCO at 3.6. P/cash flow is slightly better for ESV, while ROE is slightly better for MDCO. This is based on mdco at 22 1/4 and esv at 30 1/16. I have to agree with your statement about the dubious nature of long-term earnings estimates. I suppose I would view the two companies on nearly an equal footing now from a value perspective, with mdco trading at a small "rumour" premium. I'll stick with MDCO for now, partly because I like the flexibility that low-debt gives the management. (Plus, I wouldn't sell it with this kind of interesting price & volume action going on). Do you, or anyone else, have comparisons on fleet age and quality of management (big dog?)? Thanks, 007

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