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Rowan Companies plc Message Board

  • tristrem tristrem Jan 20, 1999 3:00 PM Flag

    Stay Calm, Everyone...

    Things are happening on the Arabian peninsula that might soon make off-shore drilling much more attractive to the multinational oil companies.

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    • Rowan endured the 1980's very well. They are
      stronger today than ever.
      RDC has $148 mil in cash with
      $300 mil in debt paying no more than 6.9 %.

      The
      company continues to buy back stock and Gorilla V will be
      put to work soon. Amoco seems to be trying to lower
      the price on this rig. However, the contract is for
      one year with no buy out clause so Amoco must put up
      or shut up. Hopefully Amoco and Rowan work this out
      and both win.

      The management of this company
      is admired by many in the oil service business. This
      stock is a buy at this level.

    • have a much higher debt-to-equity ratio and less
      cash on the books than RDC! So, if RDC gets into
      trouble it is likely to be long after a lot of other
      companies in this insustry??? However, I think that before
      it " hits the fan", cooler heads will prevail and I
      expect a wave of M&A's will take place. RDC could be
      either the acquirer or the acquired!!! In any event, a
      merger or acquisition could have a substantially
      beneficial effect upon the stock price.....Keep your eye on
      this one?????

    • I'm not good at research. Does anyone out there
      know if Rowan has the strength to endure another year
      or two of low oil prices or are they one of the
      weaker companies that may fold under the stronger
      competitors.

    • From the low 40s to 9.

    • Here's how people loss money with RDC and other
      value stocks. They buy it when they think it hits a
      low/support level. Hold it for a few months, and then sell
      out of frustration when it drifts down 5/8 below
      their purchase price.

      RDC will eventually have a
      big 3-4X up move but it may takes 2-3 years. If you
      can hold out you will do just fine.
      Good Luck

    • anyone...

    • One rule on investing in the energy sector is
      always to assume that OPEC will shoot itself in the
      foot. History has amply demonstrated that they will
      agree to all kinds of production cuts, which would in
      fact give them a net increase in revenues, but then
      start cheating on there quotas.

      OPEC is a
      classic example of the paradox of the commons. By acting
      together they could preserve their resources and maximize
      revenues. But each member believes that it can get even
      more money if its cheats while the members stick to
      their quotas, so all wind up over time cheating and
      therefore depleting their resources and minimizing
      revenues.

      My advice is ignore OPEC and focus on global demand
      and production capacity if you want to TRY to predict
      future oil prices.

      Good Luck

    • I got into a little bit of oil last year (ok,
      timing is everything!) but feel the prices are
      ridiculous now. Have some MIND (speculative, of course),
      some RDC and HP. Still consider myself a novice, so
      appreciate the input.

      Will definitely look into your
      recommnedations (after getting some SLB on board!).

      Good
      luck!

    • I'm surprised the Saudis spend ANY money on
      defense when they have the USAF and US Navy to do their
      bidding for them. What do you think would be the price of
      a barrel of oil if the cost of maintaining an
      aircraft carrier task force, several air combat wings, and
      ground forces were factored into it?

      Anyway, I
      thought it was interesting that the Saudis keep so much
      of their assets overseas "in case they need to go
      away in a hurry..." Hmmm. Why would that be, do you
      suppose? What would cause them to think that they might
      need to hurriedly decamp at some point?

    • <---Cont.
      Now people are asking why, when
      the kingdom seems to be so rich in cash, the economy
      is suffering, one Saudi economist said.

      The
      answer, Saudi and foreign experts agree, lies at least
      partly in the huge sums of Saudi wealth kept overseas.


      Critics say the flow of Saudi capital to foreign bank
      accounts and invested in property abroad is the most
      significant indicator of deepening economic crisis in the
      world's largest oil producer and exporter.

      Saudi
      and foreign analysts estimate the sum of private
      Saudi assets held abroad at $400 billion, described by
      one Western diplomat as "fail-safe money in case they
      need to go away in a hurry."

      The repatriation
      of at least some of those assets could be used to
      cushion the impact of the oil price crash, leading to a
      period of economic growth and stability, said Beshr
      Bakheet, who runs a Riyadh firm of financial advisers.


      The private sector needed to be given a bigger role
      in running the Saudi stock market, largest in the
      Arab world, and other Gulf Arab bourses if they were
      to flourish.

      "This is a very delicate issue
      since most governments are rightfully worried about
      uneducated small investors falling victim to pushy brokers
      and bad stocks," Bakheet said in a report which also
      noted that no Gulf Arab listed companies had gone
      bankrupt.

      Defence, the biggest single item of
      expenditure, rated no mention at all in the budget.


      Saudi Arabia, the world's biggest arms buyer, never
      discloses how much it spends on defence, although most
      analysts settle on a figure of 30 percent of the total
      budget.

      Analysts predict delays on some defence
      spending but the budget gave no clues where this would
      occur.

      "We're expecting defence spending will
      fall this year," a diplomat at one Western embassy in
      Riyadh said. "It looks like it will be cut by one
      quarter to one fifth -- a big change. But it will still
      account for one third of the total budget."

      ($1 =
      3.75 riyals)

      10:43 01-25-99

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RDC
29.72+0.27(+0.92%)Aug 19 4:02 PMEDT

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