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Gold/Mining/Energy : Ensco International Inc. (ESV) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Roth who wrote (1934)	2/24/2006 8:21:14 AM
From: Dennis Roth	Read Replies (1) \| Respond to of 2005

Ensco International (IL/A): Strong 4Q05 results suggest upside to estimates - Goldman Sachs - February 23, 2006 Ensco recurring 4Q05 EPS of $0.67 was above our $0.54 and consensus $0.59 with contract drilling revenues/EBITDA 13%/11% above our estimates (+$0.09 EPS variance). Tax rate was lower than expected (+$0.04) with depreciation and S,G&A expense essentially in-line. Ensco's average 4Q jackup utilization of 87% and dayrate of $85.8k were 5% and 8%, respectively, above our estimates. We believe that recent contract renewals confirm continued increases in dayrates on virtually all rig classes, suggesting upside to consensus estimates. Maintain IL/A. Conference call today, 10am EST, dial-in 719-457-2617. Each of the analysts named below hereby certifies that, with respect to each subject company and its securities for which the analyst is responsible in this report, (1) all of the views expressed in this report accurately reflect his or her personal views about the subject companies and securities, and (2) no part of his or her compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report: Jason Gilbert, Jerry Revich.