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IEZ: Schlumberger's Weak Earnings Call Sector Valuation Into Question

your talking about GOM weakness? But the drillers are saying they are "pleasantly surprised" by the upturn in GOM business. GOM has been lagging badly for some time. The fact is, GOM is world class field that has not receive the attention it deserves. The recent highly successful lease auction shows there is intense interest in this proven lower risk play.

I'm in the camp of GOM's weakness is an opportunity in a big way at 100.00 oil. And international companies will be the main players. Think about buying rigs and services with the US dollar in the toilet. GREAT ROI, risk/reward.

Transocean Tops Estimates on Increased Rig Rental Rates

pretty impressive overall. but, GSF just announced after the close, they did nearly the same amount of earnings on or 2.06 on 50% less revenue. Frankly I was disappointed by the merger because both companies have lagged since it was announced. What is clear, is that the combined earnings for both companies will be considerably higher than most models are showing with GSF outperforming. GSF is certainly shaping up to be a bargain. Also, from the Rig conference call, note the optimism on jackups in Gulf of Mexico following favorable lease auctions.

The other highlight from the transocean call was the increasing aggressivness on the part of the Large oil companies towards their drilling programs. currently the most agressiveness is being shown by the NOC's or nationally owned oil companies.

DO's valuation target was recently raised to 178.00/shr, expect the rest of this elite group to follow.