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

To: Czechsinthemail who wrote (954)	3/30/1998 11:01:00 AM
From: Czechsinthemail	Read Replies (1) \| Respond to of 2005

HMAR's announcement of lower expected earnings may be weighing a bit on ESV today because of their participation in marine transport. HMAR's announcement attributed the shortfall to decreased utilization from increased drydockings for maintenance and upgrading. They said dayrates and demand remain high. If so, it should be good news for ESV. Though the marine transport is only about 10% of ESV's business and probably declining in relative importance, HMAR's news that a number of their Gulf boats are out of commission for awhile should boost demand and dayrates for other boats in the Gulf -- like ESV's. If so, we should see the payoff in a somewhat beefier earnings announcement in a couple of weeks. I think we may be near the end of below 30 prices for ESV. Baird