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: Broken_Clock who wrote (39060)	3/5/1999 7:17:00 PM
From: SliderOnTheBlack	Read Replies (1) of 95453

Damn; I finally agree with Papaya King on something <VBG> drillbits! Very good article on RDC. Man; I'd follow Palmer into battle - is this guy the Sgt. Slaughter of the 'Patch or what ! Seriously; couple of important points - the importance of having a ''niche'' - RDC's being harsh enviroment and deepwater - spec purpose Jack Ups. Also; good management in down times - they have taken advantage of this down time to use their solid balance sheet to refurbrish & update their Rigs - giving them a value added marketing advantage... Still have a hard time with that EPS forecast though.... why couldn't FLC, or PDE have RDC's balance sheet <VBG> ? ..also; someone is selling mud pumps, top drives and refurbrishing Rigs ! --- Rig utilization is another early indicator - would be nice to see a trend developing. I'm reading everywhere that everyone is postponing activity to 2nd half 1999. Could make for some earnings disappoitments in Q1-2; but we are finally seeing comments from analysts who seem to be factoring this in. VTS - this company has a good track record of managing down expectations of the Street - watch for upside surprises from them imho. Hopefully they'll bottom here soon...

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