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Gold/Mining/Energy : Trico Marine Services (TMAR)
TMAR 22.42-0.2%Nov 6 12:12 PM EST
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To: D.J.Smyth who wrote (749)8/25/1998 4:48:00 PM
From: Grommit  Read Replies (2) of 1153
 
Darrell,

Have you reviewed your calculation with TMAR IR/CFO? If you have not, I would recommend it. You may get some reassurance (if correct) or assistance (if incorrect) with it. Either way - you win.

(When I was doing similar calculation with HMAR a few months ago, they were able to verify my methods and results, although they were clueless as anyone else with regard to rates and utilization assumptions.)

regards,

PS one small point -- I was told that the rigs being idled generally were the exploratory rigs. So the percent of production rigs in the total is getting higher. Production rigs need less boat support than exploratory rigs.
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