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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: drsvelte who wrote (34641)1/9/1999 8:52:00 PM
From: SliderOnTheBlack  Read Replies (3) of 95453
 
drsvelte -& others; questions/comments on Noble Drilling/NE

good-drsvelte; yes indeed the IBD rankings for NE are verrrry interesting; I smell buyout sentiment brewing in the street...

I have never followed NE as close as some other Drillers as they aren't as pure of a deepwater play as RIG, smaller than and do not have DO's balance sheet, don't have FLC's size or earnings leverage etc. For me; they are the ''forgotten'' driller... I just see all the other companies mentioned above as having better value, more upside, stronger fundamental/financial strengths or niche advantages.

Atwood/ATW also falls into this ''limbo-land'' imho. Perhaps this is exactly what will make them buyout candidates; they don't have the pure niche dominance, or the size, or financial strength to continue to compete equally with the larger companies in a prolonged negative enviroment. Yes; they can survive; but if consolidation is coming; they would definitely be the seller not the buyer imho.

Anyone have any comments on NE - again; I don't follow them that closely - what am I missing here ? Obviously from the Streets strong accumulation statistics - someone smells something happening with NE... are they a buyout candidate, is there hidden value ?
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