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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: riskyinvesting who wrote (123039)	8/5/2009 7:53:41 PM
From: JimisJim	1 Recommendation Respond to of 206184

Nice post on RIG... As for DPTR... good luck with it... it has sucked a lot of money out of a lot of people's pockets the last couple of years... I was lucky and got out with a profit when it began to dawn on me that they didn't have a clue about what they were doing and couldn't make a decent hole to save themselves, literally... It's a different type of story stock now and all seems to be riding on that Gray well... reminds me of when everyone was breathlessly awaiting news on the Joseph well in the Hingeline (that's when I got out -- too much frenzy and track record put the risk/reward into the duster column probability outcome). Just me, but until/unless DPTR can prove they can actually execute, have a good plan (they seem to like to strand some ng while building pipelines for fields that don't really need them yet, etc.) -- in other words, get past Parker's follies from the past, I won't put a penny into their hands... if gray is good, there will be time to trade it on strength... at least that's my opinion. But I do wish you good luck with it, you seem to know the risks. Jim

To: riskyinvesting who wrote (123039)	8/5/2009 8:13:21 PM
From: quehubo	Read Replies (1) \| Respond to of 206184

I have worked my way down to about 1/3 loaded for the same reason, I dont understand what the hell is going on. I have zero confidence that the Obama Administration and this Congress has a clue how to promote economic growth. The last 20 years and especially they last 10 have been very good to my portfolio. If I am not comfortable with the market or the government's efforts I am not going be to investing like it was 1999 again. Also my focus over the years has been the natural gas story, which has been turned on its head.

To: riskyinvesting who wrote (123039)	8/6/2009 2:01:18 AM
From: GaAs52	Respond to of 206184

Credit Suisse notes for RIG: - RIG reached a tentative agreement to sell 2 midwater North Sea rigs required as part of the GSF merger for approximately $200 MM, which is down sharply from the $750 MM sales agreement last year that subsequently fell through owing to funding issues. (750 M to 200 M in a year! Oouch!!) - RIG’s idle/stacked jackup rigcount has increased to 18 rigs, up from 3 at year-end. With 14 incremental jackups expected to conclude contracts by year-end without future commitments, RIG has very limited visibility for its international focused jackup fleet. RIG plans to aggressively increase its stacked rigcount to lower its cost structure. RIG believes its idle/stacked jackup rigcount could grow to 25 or 26 rigs by yearend or possibly higher. Per Rigzone. there are ~110 Jack-ups ready/cold stacked with 50+ under construction with no contracts. - RIG is seeing soft tendering activity for deepwater rigs in the 5,000 ft water depth category and floaters that roll-off contract in the back half of 2009 could experience idle time between jobs. Whose idea was it for RIG to buy jack-up/midwater GSF at market top? Was it Goldman Sachs?