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 (35485)	1/20/1999 8:41:00 PM
From: steve harris	Read Replies (1) of 95453

Slider, RDC vice president, investor relations, said today Amoco loss would cost them .29/ share. NEW YORK, Jan 20 (Reuters) - Loss of the Amoco (UK) Exploration Co drilling contract for the Rowan Gorilla V jackup drilling rig will reduce Rowan Cos Inc's 1999 earnings $0.29 per share, Vice President, Investor Relations Bill Provine told Reuters Wednesday. biz.yahoo.com Of course he did say "Meanwhile, he continued, Rowan is taking the rig to the U.K. port of Peterhead and is seeking other work in the North Sea. The company does not expect to receive the $185,000 per day Amoco would pay, but ''something is better than nothing,'' while the case is in court, Provine concluded." But of course your optimism includes these facts. About 85 million shares out at .29 is 24.7 million loss of c-a-s-h. 23% profit margin = 107million loss in revenue. (my figures) In the previous Amoco news it was estimated RDC losing 67million in revenue. biz.yahoo.com Looks bad here but keep in mind, I sold my PWAV before the 25% runup today. So the fact I don't like RDC must mean it will go up. I'm wanting to buy my ESV back but still looking at other co's. Keep up your posts. Learning all the time here...... steve

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