axebl2

Seadrill: Finding Gold in an Oil Driller

Seadrill is a great company, and my #1 holding, but I recommend doing a little better job of fact checking as the credibility of your article is shaky with the following errors:

"$3,500,000 Norwegian Krone" is not a valid unit of currency. Pick one, $, or Krone, but not both. $3,500,000 = approx 18,000,000 Norwegian Krone.

Seadrill does NOT own a substantial position in Apexindo. They liquidated their entire holding in October of 2007. -> www.seadrill.com/modul...

They did own 80% of Seawell, but their interest has been diluted to 73.40% as noted on page 4 of Seadrill's Q1 2008 report -> www.seadrill.com/strea...

Finally, you omitted a key holding in Sapuracrest. As of the writing of your article, they owned 19.71% of the company. That many not meet your criteria of "substantial", but their systematic open market purchases of SapuraCrest stock on over 58 days in the last 6 months suggests that this is far more than a short term financial investment.