Marc Courtenay

Ensco International and Oilsands Quest: Two Diverse Energy Bets

Thanks for your comments. Very helpful feedback. Atwood Oceanics is a good choice on pullbacks. This is a small oil and gas driller in the offshore market that owns and operates eight premium offshore rigs. Their mixed fleet includes four semi-submersibles and two premium jack-ups. Semi-submersibles are deep-water rigs that can drill down to 25,000 feet or more. As of November 27, 2007 ATW owned and operated eight offshore mobile drilling units located in six regions of the world, including offshore Southeast Asia, offshore Africa, offshore India, offshore Australia. Their numbers look good, but they sell for almost 5 times book value vs. ESV at less than 3X. If ATW falls below 90 I'd be a buyer unless the news was bad. Again, thanks for the comments. Marc