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: Bazmataz who wrote (16825)	3/27/1998 9:25:00 AM
From: Lucretius	Read Replies (1) of 95453

good grief, this again, I noticed you keep posting GLM infO to me, to be honest, I could really care less. Again....... <<<with an active fleet of 33 mobilerigs worldwide including one rig undergoing conversion and two new rigs under construction for deep-water drilling>> a couple or 6 or 8 deepwater drillships or semis in a fleet of 30+ rigs DOES NOT MAKE YOU A DEEPWATER DRILLER!!!! A DEEPWATER DRILLER IS ONE THAT IS FOCUSED IN THAT AREA. MAYBE NEXT YR GLM WILL BE A DEEPWATER DRILLER ONCE THEY BUILD SOME MORE RIGS, BUT THE STREET DOES NOT CONSIDER THEM ONE AS FAR AS I KNOEW, AND THAT IS WHERE THE INCREASED VALUATION WILL COME FROM. FACT OF THE MATTER IS THE MKT DOES NOT VALUE GLM AS A DEEPWATER DRILLER, HENCE HER SHARE PRICE LANGUISHES WHERE IT IS. BTW-- To be honest, I don't think you should even try and claim to be a deepwater driller, as oil prices increase the shallow guys are going to see better gains. CDG is looking pretty good in here. -Lucretius

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