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

To: steve harris who wrote (1947)	8/21/2017 1:07:49 PM
From: robert b furman	Read Replies (1) \| Respond to of 2005

The recent announcement of Ensco buying Atwood Oceonics, which has a big presence in the Gulf of Mexico has dropped the price of ESV to the low fours - some @ dollars plus below their cash per share of $6.48. I have sold $4.00, %5.00 $6.00 and $8.00 puts that will expire in March of 2018. I'm hopeful these will yield me being put the stock. Not sure all of them will be put to me but it is a laddered approach. Recent mergers of Maersk deep water drilling and Transocean purchases (Plus Esv's suggest that the uptick in acquisitions is seen as a bottom in the deep water drilling sector. The news is so negative it is typical of a no one wants to own these dogs. The same thing happened to semi's on 2000, banks in 2008 and deepwater drilling in 2017. I have bought KMI and ESV for a very long term buy and hold with the hope of boosting my retirement dividend income some 2-5 years out. I'm allocating my dividends of today into a recovering industry that has great growth now and more out into the future. Here is a great article that indicates Mexico has been growing fast out in the Gulf of Mexico - quite contrary to all of the drilling is dead articles we must weed through. Yes oil and gas are historically cheap Yes demand is growinig with the reduced pricing Keep in mind that energy resources are in emerging markets, the main source of wealth for these small countries. The effort continues in an effort to retain the countries positive cash flow and future development. It was just more lucrative 2 years ago and is as necessary as ever now! Here's proof: There’s been a gradual and sustained increase of exploration activity in Mexico, particularly in deepwater regions. The number of active offshore exploration rigs in Mexico reached a 10-year high in June 2017, and the sector may be only just beginning to see the effects of the energy reforms. Mexico began deregulating the industry in 2013 amid declining domestic gas production. You don't read that fact too often in these dark days of ultra deep water drilling! Buy then rock bottom cheap - throw them in a drawer and FORGET ABOUT THEM!! INVEST don't trade!!! It'll make you richer into the future!! Bob