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: SliderOnTheBlack who wrote (25488)	7/10/1998 6:25:00 PM
From: Elmer	Read Replies (1) of 95453

I don't see many people talk much about Pride ("PDE") very much on this Thread. I am thinking about buying some next week. I like the company's international business in South America. With all of the natural gas pipelines and infrastructure being built in these areas there should be some huge natural gas drilling over the next few years. PDE also has some deepwater assets entering the market next year. Best of all, the stock is around $14.50 with a Book Value of $13.70 per share. I feel there is huge upside with not too much more downside (but, then again, we have all been saying this for a while now). I don't know of any other drillers trading this close to BVPS. It might be a good way for some of the North American drillers to gain some significant intl. exposure at very cheap prices. Diversified operationally and geographically - In 1997: Some is W/O operations: Intl. Land = 58% Intl. Offshore = 23% Domestic Offshore = 19% Over the next few years, offshore should continue to grow in % significance as a result of deepwater newbuilds. I would love to hear others thoughts on PDE. Thanks, Elmer

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