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

To: jim p. holcomb who wrote (733)	2/4/1998 4:11:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 2005

Jim, thanks as ever for passing on this information. Was there any indication from Mr. LeBlanc as to how long the refit will take, and when we can expect these rigs to start operations in the North Sea? Regards, Paul

To: jim p. holcomb who wrote (733)	2/4/1998 7:24:00 PM
From: Czechsinthemail	Respond to of 2005

jim, Thanks for the information. It is good to hear the GOM dayrates are still increasing. That should translate into a strong quarter even with the two rigs out of commission while being upgraded. Do you happen to know the timing of ESV's contract renegotiations? I'm wondering how many rigs will be getting repriced during the next quarter or two. Regarding the supply boats, do you know where they are based? My understanding is that the Gulf is the area of concern for possible supply boat surpluses later this year. Are ESV's boats mostly Gulf-based? Today was very strong for ESV and other drillers. Crude oil was down slightly, so we may be reaching the point where the companies are being evaluating more on their price and earnings potential rather than simply mirroring oil prices. It looked like some serious bargain hunting buying. Unless oil prices and/or stock prices weaken seriously from here, we may be able to continue the upmove. good luck, Baird