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

To: steve harris who wrote (2002)	3/15/2020 6:42:29 PM
From: robert b furman	1 Recommendation Recommended By steve harris Read Replies (1) \| Respond to of 2005

Hi Steve, Thank you for that enlightening report. I'm thinking of putting you on ignore (LOL NOT REALLY). There are a lot of analysts who like to kick cripples. There is no reason to sell at this minimal price. I bought 10,000 shares of KVHI once and sold them at 30. Not saying that will happen, but as capex declines and it surely is now, the price of oil will recover and that spurs investment. If other countries choose to sell oil below the marginal cost of the next discovered barrel of oil , rationality demands the activity will be short. If not, we'll buy them up and show them how to do commerce or pick up the pieces after the fools go broke. Like I said before, I'm giving it some recovery time and then I'll harvest my losses. It's a tax thing. I always thought Ultra deep sea drilling was a lottery ticket. I bet on esv and rig. Rig paid off and esv went into merger expansion mode and has had an ass kicking ever since. We'll see if they have had the insight to become a dominant deep driller or not. One thing for sure Exxon has done very well with Guyana. The permian is good till 2040-2050 for our domestic crude sources. The depletion rate for other countries I suspect will end up being demand for UDW drilling. It's a long term play. When I bought it, I said I was going to throw it in a drawer and forget about it. I'm still thinking that, but I sure didn't think it would be such a washout. Right now its status remains the same, but I'll sell some rather than pay taxes - if the market looks rough overall. Ensco before all of the acquisitions was old deep money. Their acquisitions may have been errant. Only time will tell. They have a large line of credit out there, so their not walking wounded quite yet. Bob