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Gold/Mining/Energy : Ensco International Inc. (ESV)
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To: David Lawrence who wrote (1467)9/12/1998 1:20:00 PM
From: Dave Chanoux  Read Replies (1) of 2005
 
Hello David, There is some precedent for the equipment loss turning into a gain. Transocean Offshore lost a jackup under tow in Bahrain a couple of years ago. It was insured for about twice its book value, but less than its replacement value. They recorded a non-recurring income item.

Funny accounting.

Regards,

Dave Chanoux
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