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: mc who wrote (22120)	5/15/1998 3:59:00 PM
From: Shelia Jones	Read Replies (1) of 95453

Gary, As you know, often run ups as well as run downs are overdone. That is how I - try anyway to - make money. You are correct that MDCO has a great balance sheet. The growth rate and projected p/e's of the drillers have been compared on this thread a few times in the past month or so. If anyone still has this info it would be useful - to some degree - to pick a point where MDCO and the drillers are more or less in agreement as to valuation. My 5 drillers are/were: MDCO, RIG, DO, NE, ESV. RIG and DO as deepwater plays have done better than I expected ( as did MDCO ). NE was kicking for awhile and then pulled back. ESV is only a couple points from where I bought it. So- MDCO would fall closer to ESV and NE in terms of their business. With MDCO in the $21 / $22 range it seems reasonable to me. Today's action could be an overdone downward move with upside right around the corner. I've been waiting for NE, and especially ESV, to move too. The current p/e on ESV is really low. Today was just an overall bad driller day. Hope this helps. Shelia

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