Transocean Ltd. (RIG)

[DegenerateGambler]

No other drillers.

I got into RIG because of the world wide deep water rigging situation I learned about from investing in a small bulletin board oil company (symbol EHRE). ERNE is partnered with ADDAX, SINOPEC and ANADARKO in the JDZ, an oil exploration field in the Gulf of Guinea (West Africa near Nigeria). ERHE's partners (the operators for the Block) have not been able to obtain a drilling rigs they need for the exploration so many delays have been encountered. Realizing the law of supply and demand, I felt RIG would be a good investment until there in a better balance in the world wide rig supply. No new rigs built for 7 years has kept the supply down and lease costs increasing.