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Parker Drilling Co. Message Board

  • KhalidRKahn KhalidRKahn Jun 1, 1999 2:08 PM Flag

    Visit the Prudent Investor website

    Last Friday I issued a 'sell' on PKD, FLC, and
    other OSS stocks. Once again, my timing was far better
    than that of the average PKD redneck.

    The
    prudent investor would have liquidated his/her position
    in this sector last week.

    If you wan't to be
    enlighted:
    http://clubs.yahoo.com/clubs/theprudentinvestor


    The Prudent Investor site has the best analysis and
    insight I am capable of. Red-Ant, go eat some Amdro, I'll
    post wherever I want.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Bridgehat, good speeches
      thanks for the link!
      Hope things get worked out soon in this arena.
      Looks very promising.

    • There are a couple of interesting articles
      pertaining to the subject in your post in the following
      hyperlink that I have inserted. One is titled "Caspian Oil
      & Gas ; Shedding Illusions," by Prof. Thomas
      Waelden and another one a little further down the list
      titled "The Legal Status of The Caspian Sea ; a card in
      the new 'great game', written by Dr. Sergei
      Vinogradov. Take a look if you are so inclined. I am looking
      forward to following the progress of this
      operation.

      http://www.gasandoil.com/goc/speeches/welcome.html

    • Drilling in the Caspian Sea

      Drilling is
      expected to begin shortly at the Kashagan field
      located
      in the northern Caspian Sea. The investment in the
      well
      is estimated to exceed $600 million, possibly the
      biggest
      investment in a single well since Sohio drilled a duster in
      the
      Beaufort Sea in the early '80's.

      The drilling,
      about a year behind schedule, will be conducted by
      a
      consortium of nine major oil companies operating under the
      name
      of The Offshore Kazakhstan International
      Operating
      Company (OKIOC).

      There is evidence suggesting the
      Kashagan field is one of the
      world's last great
      undiscovered oilfields.

      The Kashagan structure, below
      the shallow waters of the remote
      northern Caspian
      Sea, is three times the size of the nearby
      Tengiz
      field. That field, operated by Chevron, is the largest
      oil
      reservoir discovered in the past 25 years and contains
      about 6
      billion barrels of recoverable
      reserves.

      Although the evidence for a huge discovery is strong,
      there is
      still only a one in five chance of a
      discovery. But development
      plans are already being worked
      on by a 40-strong team from the
      consortium
      members.

      If Kashagan's reserves prove as large as geologists
      suspect, it
      could support the construction of a major
      export pipeline which
      would spur more drilling in the
      region. Positive results could
      also be a windfall for
      Parker Drilling (PKD) who is drilling the
      unique well
      with a one-of-a-kind barge it has moved from
      Nigeria,
      through the Volga River and stationed in the shallow
      water of the
      Northern Caspian Sea. Parker, known for
      its remote location
      drilling, is the dominant
      drilling contractor in the Caspian
      area.

      It may
      not be a bad idea to tuck away a few Parker shares as
      this
      history-making well starts turning

    • Thought everyone here might be interested in what
      a poster said about PKD on the SI message board
      (Can't vouch for all content of post but gist of what he
      said is not going to be news to those of us here).
      Glad others are beginning to recognize that PKD is a
      lot more than just another land driller. Highly
      leveraged? For sure. Interested comparison made to a couple
      of other drillers,
      too....L.C.


      >>From:zxzxzxz Monday, Jun 7 1999 2:45PM ET

      Anyone
      looking at what has to be one of the sickest pups in the
      patch,
      PKD ? I thought when I started to look at it
      that it was a little ol'
      land driller with a $3
      stock. Uh, not exactly. PKD has a huge operation

      (which is maybe the problem<ggg>). Their web site
      gives a rig count of
      127 split up this way. 60 rigs
      in North America, 15 land and 45

      barges/platforms/jackups in the shallow water and the transition

      zone...28 land rigs in Asia/Africa and 4 in the water...30
      land rigs in
      South America with 5 in the
      water......73 land....54 water. It has a
      huge debt burden
      and may be on its death bed but it also has lots of

      assets that could give a lot of upside leverage under
      improving industry
      conditions.
      As a admittedly bad
      comparison, lets look at MRL, a company with its own

      problems. MRL has 18 rigs with 8 either idle, undergoing
      repairs or
      under construction. PKD revenues for 1Q
      1999 were 4 times that of MRL
      but MRL's market cap
      is 3 times that of PKD. Selling at 2/3 of book

      value, it seems to me that, barring bankruptcy, PKD
      could be a real
      turnaround play.<<

    • Hell I dont remember ,I was too busy with that whore of Gus's to care......... Blueduck...
      is that Mississippi or La.?

    • Yeah, it was sorta an Army Scout. (He couldn't
      hold feathers against the ones I knew though!) Seems
      like his charactor name was Dixon. Mayby Blue Duck
      will run by and refreash our
      memory.
      AZI-C-IT-MAY-NEED-IT

    • Anything that I can do to help from
      Cyberspace?
      The attachment was a GIF(I believe) file and some
      people using a WEB T.V. can't open them.
      I've had
      problems in the past with my Packard Bell. Phone Modem and
      internal battery went tango uniform and I contacted a
      virus(Monkey Blood 2) at the same time. Liked to drove me
      batty/battier before I found out what the problems
      were.
      AZ-I-WOULDN'T-WANT-2-C-IT-HAPPEN-AGAIN

    • The rest of the sector goes bonkers and this garbage stock continues to lie there like a maggot infested corpse.

    • I've been all over this world, 3 or 4 times, and
      it never ceases
      to amaze me the acquaintances I
      run into. Mendall Hunter, is
      probably the closest
      friend I've ever had. He went to Texas Tech
      on a
      football scholorship, married an absolutely beautiful
      woman, has 2 grown daughters, retired from stocker
      cattle business and sold his place near me, and now
      lives in Virginia.
      His brother Jerry is a preacher
      in Mustang, Oklahoma.

      Have heard the same
      thing with Parker Drilling and Parker Bros.
      Near as
      I can determine, the Parker Bros. were/are out of
      Odessa.
      Also, not in the same league with Parker Drilling Co.
      Think you'll find PKD coming to the fore here, very
      shortly. (5 or 6 mos. hopefully). They are down, but a
      long ways from being out.

      T34 B

    • I went to school at Kelton and the Hunters went
      to school at Wheeler so I didn't know them all that
      well. I played little league baseball on a team with
      Mendall and Villard many moons ago, but haven't seen much
      of them since.
      Parker was one of the first
      drilling companies I remember drilling this area in the
      60's and 70's. It seems like I remember there was a
      Parker Drilling Co and a Parker Brothers drilling
      company operating at the same time around here. As I
      remember it, someone told me Parker rigs were top-notch,
      but Parker Bros were junk. Of course, that's
      remembering a conversation I had 25 years ago and I may have
      forgotten or added a thing or two in the remembrance.

    • View More Messages
 
PKD
6.18-0.09(-1.44%)Jul 31 4:00 PMEDT

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