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$123.48 1.21 (0.99%)
9/8/2008 9:51 AM

Transocean, Inc. (RIG)

CAPS Rating:
*****

The Company is an international provider of offshore contract drilling services for oil and gas wells. Its primary business is to contract the drilling rigs, related equipment and work crews primarily on a dayrate basis to drill oil and gas wells.

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19

Avatar wildeagain (< 20) Submitted: 5/13/08 11:30 PM : Outperform Start Price: $149.93 RIG Score: -7.09

RIG has half of the deep water rigs in the world. Something like nine of the seventeen in use. Don't quote me on that number. I read it recently, but forget the exact number. Anyway, easy oil is soon over. Hard oil is PBR and their find in Brazil. They need deep rigs to get that oil from their amazing find. They need RIG. Therefore, I need RIG. A nice pull back. I bought midway today at 147. Was 162 and had a big beat quarter, but street took it down. Strangely, some other deep riggers like Noble are at 52 week highs, so RIG is priced at this moment to turn up. The best in breed does not trail Noble.

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Avatar thopau (< 20) Submitted: 5/20/08 12:33 PM

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You are spot-on. I've owned RIG for several years and had added to my position. The prime reason is Brazil as they are trying to tie-up under contract 75% of the world's entire drill rigs. In my opinion RIG is a $200 stock and I plan to simply hold on for the long-haul.

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Avatar wildeagain (< 20) Submitted: 5/30/08 1:21 PM

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thanks for your reply. I believe we are at a halycon moment in industrial history. Two billion Indians and Chinese don't want to live in huts anymore and they are using all of the world''s resources at a rapid clip. China predicts their GDP growth will remain at 10 percent for the next five years. They are building cities of 2 million people like you and I build a deck in the back. I am constantly adding to my positions during pullbacks. BHP is a good example was 96 now 85 a great spot to get in. Oil. Steel. Coal. Iron Ore. I think these are undervalued even after runs. RIG is the leader in this industry. How can you be afraid of investing in a company that has a PE of 10 in a growth industry like oil. I love it when PEs of 10 get slaughtered down 10-12 percent when the commodity itself is showing remarkable strength. good for you on rig. Let's hope our thesis is right. I believe it is.

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