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Parker Drilling Co. Message Board

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  • bridgehat bridgehat Jun 3, 1999 7:58 PM Flag

    Strength in Oils

    The article you posted on the Caspian Basin
    potential I found to be very interesting and pertinent to
    PKD. While I have been following this thread for a
    couple of months and have a minor position in this
    company I have rarely seen any reference made to PKD's
    role in the Caspian. While the cover of the 1998
    annual report is titled "Fishing The Caspian". Five
    years ago PKD assumed the role as the first western
    drilling contractor in the Caspian Basin, which is deemed
    to be one of the last real frontiers in the search
    for energy and quite possibly some of the world's
    largest deposits of oil and natural gas. While currently
    Parker may be suffering financially from the woes of the
    oil sector and to a small degree management
    difficulties their pioneering efforts in the Caspian Basin are
    to be admired. The technical, logistical, financial
    and political implications involved in this endeavor
    are incomprehensible to a layman such as myself. As
    mentioned in the article you posted it talks about PKD's
    association in the Tengiz Field of Kazakhstan and their
    involvement with many major players (big oil) who are
    involved in this project. In the Tengiz field they are
    primarily involved with Chevron and its Tengizchevroil
    partners, also mentioned was the -OKIOC-. Parker is
    providing the world's largest posted barge rig for the
    consortium's historical entry into Caspian waters. It states
    that industry observers will be closely watching this
    first-of-a-kind offshore drilling project. The area with possibly
    the largest reserves is Kazahstan, and that's where
    Parker has established its regional base. A first of its
    kind artic-class barge rig is expected to begin
    operations in early summer. Parker has led other western
    drillers in establishing operations and improving
    logistics management in the Caspian Basin. Long-term
    potential in this region could be enormous. With sustained
    crude prices and success in this region Parker could
    emerge as true leader as well as a sought after and
    pivotal driller. I am certain many believe Parker to be
    way out of there league on this one as they
    traditionally have been a land based driller. It's obviously
    risky but as a driller their going to be compensated
    for their efforts dry hole or not. No balls no glory.
    Which should ultimately lead to a healthy bottom line
    that would benefit all. I personally wish them success
    and look forward to seeing the results. There seems
    to be a great deal of concern over the number of
    "coldstacked" rigs, primarily domestics, rusting away right now
    but I think the ultimate savior
    could possibly be
    the Caspian operations. While I am a Hoosier I'm
    betting on the Okies in the long haul. I have inserted a
    hyperlink to Alexander's Oil & Gas with a couple of
    interesting articles. However, when you open the website it
    does not present the specific articles. You have to
    look under speeches and the on the left side hilight
    the pertinent articles. A newly added one titled -
    Caspian Oil & Gas : Shedding Illusions by Prof. Thomas
    Waelde is insightful and then a little lower on the list
    is on titled - The Legal Status of the Caspian Sea :
    A Card in the new 'Great Game'.

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    • Want to tell you what an intelligent,interesting and insightful message you posted. Hope you continue to do so.
      the kid...

    • I am new to PKD and bought in after the annual
      report came out, so I am still learning about PKD's
      operations. Since I started monotoring this board, I hadn't
      seen anything about PKD in the Caspian and didn't know
      if it had been discussed previously. I have recently
      purchased several energy companies and need to get the
      annual reports for 1998 for them. I agree getting a leg
      up in the Caspian region could certainly pay off big
      time for PKD.
      FWIW-You don't have to get your stock
      from Vancouver to play the coal bed methane theme. US
      listed stocks I own involved in CBM are EVER, DVD/PZE,
      PENG, PN, and PGEI. Everyone please run out and buy
      them..<g>

      • 1 Reply to cwalser
      • I honestly think that several of us are holding
        our breath, as it
        were, concerning PKD operations
        in the Caspian. Robt Parker pretty well summed it up
        when he allowed as how it was a real
        guessing game
        as to whether it was going to be a hit or miss.
        Also, FWIW, PKD has lots of experience in barge
        operations and
        shallow water drilling. Acquisition of
        Mallard will help matters
        out in the future. Barge
        drilling for PKD is not a new step, by
        any stretch of
        the imagination.

        I too would like to put forth
        a couple of Coal Seam Gas and Tight
        Sands
        operations: WTU (Williams Coal Seam Gas), and DOM
        (Dominion
        Black Warrier Trust). These are both "blue chip"
        royalty trusts,
        paying a handsome royalty (dividend).
        Like you, I hope to see all
        PKD investors, go right
        out and drive the price of these two stocks, sky
        high. Pardon my spamming of a spam, but this was
        one
        of my weaker moments. T34 B

 
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