<< austinspikemeister - ... I bought in small lots four times, twice only 100 shares because I was filling in a ROTH IRA. I bought it through a prominent US discount firm last September and October. >>
What discount firm are you referring to? Did you buy in Oslo or the US .pk traded stock? My guess is that trading in Oslo from a US brokerage house will cost more for obvious reasons.
The information I posted referred to what a Fidelity rep told me regarding what that company's requirements are.
domnucct - I was told by one rep at FIDO that a trade placed through Oslo required a minium order (for SDRL) of $50,000.
Through the US, FIDO trades SDRLF.pk in share lots of 200, with 200 shares being the minimum.
The rep pointed out that one advantage of the Oslo trade path is that there is a smaller spread.
I remember GOGL being touted and just checked its price after not having looked at it since last year. Geez.
I'd hope that SDRL would not repeat that performance. Interesting as was pointed out the difference in performance between the drillers and the tankers. I've placed a relatively small bet on the Canadian Oil Sands companies, and miss the dividend I get with FRO and SFL while I am waiting it out.
This is not true. I bought in small lots four times, twice only 100 shares because I was filling in a ROTH IRA. I bought it through a prominent US discount firm last September and October.
Not sure what you mean by the 50K minimum, are you saying 50K account min or trade min?
I bought through Fidelity web they told me the trade would be executed on OSLO and it was.
I did buy more than 50K worth but they told me before I made the trade it would be OSLO, and I did not tell them how much it would be.
If it is the account min you are talking about then I guess that would make sense.
<< Can't wait to see what happens next. . . >>
What happens next is that SeaDrill will try to get full control of Eastern Drilling. It was expected that Noble Corp would take Smedvig's stake in Eastern (39%) as "divorce settlement" but they didn't.
(Noble has really behaved extremely amateurish here. No wonder their CEO was sacked.)
Most Norwegian analysts are excited by what SeaDrill has done lately. The takeover of Smedvig gives the company 4000 highly qualified employees and 30 years experience with deepwater drilling. Just what they needed.
Enskilda has raised the SeaDrill earnings estimate to $0.44 in 2006, $0.47 in 2007, $1.61 in 2008 and $3.18 in 2009.
"Enskilda has raised the SeaDrill earnings estimate to $0.44 in 2006, $0.47 in 2007, $1.61 in 2008 and $3.18 in 2009. "
Interesting. PE of 36 for a driller isn't too shabby -- especially considering the forward projections for rig day rates.