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Gold/Mining/Energy : NE, Noble Drilling -- Ignore unavailable to you. Want to Upgrade?

To: JBH who wrote (165)	1/23/1998 12:55:00 PM
From: Czechsinthemail	Read Replies (2) \| Respond to of 301

JBH, Noble's earnings should be strong. They have the double benefit of newly renegotiated contracts plus rigs coming back into service that should benefit 4Q97 and 1Q98. NE has particularly strong sequential growth forecasted. That should give them better than average earnings growth among drilling companies that are generally strong as a group. Earnings growth for this year is estimated to be up about 100% plus another 50% next year. At current prices, that is a PE of about 12x this year's and 9x next year's estimates. Baird