Brian Pursley

Implementing Pickens' Plan for Public Energy Policy

“I was in wind energy for a minute…. I hate it. And when I got to looking at those damn things I said, I don't want to be a part of putting that on the horizon. I think it's homely and I don't like it. We took a loss and got out of it and I'm glad I did.” —T. Boone Pickens, Bloomberg, February 17, 2005

A Look at Earnings from Transocean and Devon

RIG is the most undervalued stock in the world.

My belief is reinforced by the fact that all the analysts like Mike Urban at Deutsche Bank hate it.

"Deutsche Bank analyst Mike Urban also sounded a cautious note on the stock, keeping a "Sell" rating and a price target of $120 per share. That implies the stock price will fall 23.8 percent over the next year."

biz.yahoo.com/ap/08050...

Jefferies rumor yesterday that "Petrobras is likely to announce letters of intent (LOI) to award long-term contracts for as many as 17 new-build ultra-deepwater rigs."

online.barrons.com/art...

This is confirmed by Bloomberg.

"Brazil is preparing to tap the biggest crude-oil discovery in the Western Hemisphere in three decades, which lies just off its Atlantic coast. Petroleo Brasileiro SA, Brazil's state oil company, is in talks with Houston-based Transocean Inc. to extend offshore drilling contracts."

www.bloomberg.com/apps...