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


To: Spekulatius who wrote (33115)12/24/2008 12:36:17 AM
From: Paul Senior  Respond to of 78644
 
Yes, that's the big concern for RIG. So far analysts haven't suggested contracts already signed for '09 will be renegotiated at less favorable rates (to RIG). I am guessing maybe a 20% haircut to earnings estimates - not worse. Could be though. If so stock will drop further. OTOH, Brazil and other deep water oil owners wants their oil, and at some point RIG will come back into favor. Not too late for me though, I hope.