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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (28964)	11/13/2007 11:46:16 PM
From: Madharry	Respond to of 78742

ccrt announced it had repurchased a million shares after its conference call of november 5, 2007. I like seeing those stock buy backs at these prices.

To: Paul Senior who wrote (28964)	12/19/2007 12:47:08 PM
From: E_K_S	Read Replies (3) \| Respond to of 78742

Hi Paul - I am getting bullish on deep sea drilling rigs and the cash flows these rigs can generate when out on lease. It looks like you discovered a good one in SeaDrill (SDRLF.PK). (http://siliconinvestor.com/readmsg.aspx?msgid=23841846) Here is a recent article I discovered in my research on this sector. Deep Sea Drilling: A Risk Worth Taking? posted on: May 03, 2007 \| about stocks: GSF / NBL / PDE / SDRLF.PK seekingalpha.com From the article:"...As long as the rigs are in demand and users are willing to sign five year contracts that don't even start for several years, it's certainly worth it to buy one for over $500 million, even if you won't see it hit the water until mid-2010. Phew. Crazy business, but it is one with massive cash flows, and if SeaDrill continues along this track without major acquisitions I'd expect it to begin paying a significant dividend of those cash flows to shareholders within the next couple years, just as Fredriksen did with his Frontline tanker business (perhaps in part by selling the rigs off to Ship Finance, which is also riding high, and getting relatively generous lease-back deals). It should be a very interesting company and space to watch, at least over the next three years...." I have SDRLF.PK on my watch list. I was pleasantly surprised to see DryShips (Drys) take a 30.4% interest in the Norwegian offshore drilling contractor Ocean Rig ASA. DryShips Dives Into Offshore Drilling forbes.com National Oilwell Varco, Incorporated (NOV) is another one that seems to be a play in the sector but it already has had a big run YTD and it seems to be a bit overvalued to me at this point. Any opinion on NOV? National Oilwell Varco, Inc. engages in the design, construction, manufacture, and sale of systems, components, and products to the oil and gas industry worldwide. It operates in three segments: Rig Technology, Petroleum Services & Supplies, and Distribution Services. finance.yahoo.com EKS

To: Paul Senior who wrote (28964)	4/15/2008 12:31:31 PM
From: E_K_S	Respond to of 78742

Paul - You were right on the Seadrill rigs. It appears that with the new PBR oil discovery, these rigs are in high demand now. Seadrill Rises to Record on Brazil Oil-Rig Contracts bloomberg.com From the article:"...Brazil's Petroleo Brasileiro SA, also known as Petrobras, awarded Seadrill six-year contracts for three semi-submersible rigs to start operating offshore Brazil between the first quarter of 2009 and the third quarter of 2010. The orders will increase the company's backlog to more than $12 billion, up from $7.8 billion at the end of last year, Seadrill Chief Executive Officer Kjell Jacobsen said today in a statement. ``They signed three fantastic contracts with Petrobras at day rates averaging $100,000 above our expectations,' said Stian Eliassen, an analyst at Carnegie ASA in Oslo who has an ``outperform' rating on the shares. The daily rental rates for the rigs vary between $570,000 and $630,000, he said. ..." =============================================================== The market for these deep water drilling rigs are being bid up since companies have to wait until 2011 for delivery of new equipment. I believe that BOTH SeaDrill and OceanRig have new rigs on order for delivery after 2011. Based on future demand, both these companies may still be a "value" opportunity with yesterdays announcement of the huge PBR oil discovery. Floating rig market stays strong energycurrent.com ============================================================ OceanRig AG 33% owned by DryShips reported a huge insider buy by Blue Concept AS. DryShips investment is up over 10% from their initial investment in Dec 2007. Their 33% holding may turn out to be a hidden "value" gem as insiders accumulate more stock. ocean-rig.com 11.04.2008 - Primary insider transaction - Stavanger, Norway "...Blue Concept AS, a company controlled 100 % by Geir Aune, Chairman of the Board of Ocean Rig ASA, has on April 10, 2008, rolled-over a forward contract earlier disclosed by stock exchange notice dated January 11, 2008. Under the forward contract, as rolled-over, Blue Concept AS will purchase 1,200,000 Ocean Rig shares at a price of NOK 49.93 on July 9, 2008. Following this transaction Geir Aune and related parties owns 1,251,965 shares, holds 700,000 options in Ocean Rig and has a forward contract to buy 1,200,000 shares...." ------------------------------------------------------------ EKS