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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Lucretius who wrote (14692)3/13/1998 12:04:00 AM
From: John Carpenter  Read Replies (1) of 95453
 
With RIG an investor gets greater predictability in earnings.
Let me be specific. Even when NE's conversions are incorporated
into the equation, NE will generate 40% of its cashflows
from deepwater activities. Equally important is the fact
that RIG's earnings estimates are backed up by a higher
percentage of booked/firm contracts for the next two years
than NE. RIG's 1998 and 1999 contracts are largely
booked already, many with dayrares in the $205,000 to
$212,000 per day area.
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