Ensco International Inc. (ESV) Message Board

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Gold/Mining/Energy : Ensco International Inc. (ESV)

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To: The Ox who wrote (1464)	9/11/1998 1:37:00 AM
From: Carlson	Read Replies (2) of 2005

Michael: It seems that the analysts are often reactionary in reducing their earnings estimates. Earlier this week I requested from ENSCO management on current earnings estimates. They stated that the current street estimate of 35 cents for the September 30 quarter was too aggresive and guided me to an estimate of "the low 30s" for this quarter. They also advised me that the current estimate of 30 cents for the December quarter was too agressive and guided me to the mid 20s. They also stated that the company was "extremely aggressive" in repurchasing shares at the current price levels. I have found the management at ESV to be level headed and straightforward. I also inquired about what impact the recent vessel sinking would have. The vessel is currently carried on the books for $11 Million. The expected insurance settlement will be $21-22 Million. They will recognize over a $10 Million gain. Based on my belief in management and a very strong balance sheet I accumulated a 5% position of my total assets in this company. If by the chance the stock drops below 10 I will probably put another 5% of my assets in this company. I know this is a possibilty because I expect large tax loss selling this year.

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