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10 bagger

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10 bagger

Re: None

Friday, 05/16/2008 7:27:16 AM

Friday, May 16, 2008 7:27:16 AM

Post# of 5268
DPDW Update...

My initial projection's on DPDW are stated below.. After tweaking for Flotation and the unbelivable control that PBR has taken over the Harsh Water Deep Drillers by contracting over 80% of ALL avilable and newbuild deep drilling rigs through 2010 I am firming 08 at $0.19 and raising my 09 moving target to $0.36 to $0.40 for EBTIDA... This based upon new build construction of SUB.ol,, SIOFF.ol and FPSO storage facility builder SEVAN.ol.. All are O&G Service Ship Suppliers to PBR and will provide services under exisiting new build contracts supply and product processing to PBR..

As PBR with it's new contracts for Deep Rigs has ineffect cornered the market on Deep Drilling ships and platforms,,, orders and contracts for New and Newbuild Deep Drill supply ships and FPSO's can't be too far behind.. DPDW is the suppplier of first choice to the newbuild handling and docking systems to SUB.ol,, SIOFF.ol and FPSO builder and operator SEVAN.ol.. In addition with it's pending purchase of Flotation,, DPDW will be in a commanding position to provide drill pipe floatation for the deep water drilling services of those mentioned companies..

My former Projections were:

The projection of per/share earnings by an analysts for 09 may seem a little high but I think that they are doable because the FSPO market will ramp up and if they secure more new build ships providing contracts for thier products.. The 08 numbers should start to ramp up with the next quarter giving guidance as to the magnitude of DPDW's inclusion in the new build market.. 08 could be a bit of a stretch if indications are not present in the upcoming qtr..

As of now I look for EBTIDA to come in at $0.16 to $0.19 in 08 and $0.31 to $0.38 in 09...These numbers are wide for 09 because there is a possibility of shipbuilding contracts either being delayed or CXL. due to the O&G market outlook 2 years from now.. FPSO's will be immune from any downturn in oil prices as they are storage and processing facilities for oil already in the ground/sea bottom that has been discovered and that need processing.. hank

http://seekingalpha.com/article/77511-petrobras-is-hoarding-the-world-s-deep-sea-drillers?source=yahoo


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