Value Microcaps Motherboard

[10 bagger]

A Men...

You hit the nail on the head as you usually do.. I am going back to basics and that means Deep Harsh Water Drillers & companies that service them..

SDRLF is today as cheap as when I first mentioned but now from that startup of 4 years ago it has grown from a small company to one that has 13 Billion in back logs,, will earn over $2.25 per share this year and just paid a $0.60 div.. It also just acquired a 2 Billion dollar line of credit..The stock is selling for less than $8.00 and is down from the high 30's... It as RIG has contracts with majors that pay $600,000 to $700,000 a day to drill deep.. If all deep harsh water rigs including those being built were counted there would only be 51.. Majors need and want to drill for elephants offshore and they get deeper and deeper.. SDRLF might be down due to fears of the ability to obtain funds but now has cash flow in excess of 1 billion a year.. 4 years ago it didn't even qualify for VMC... I will continue to buy at these levels..

Hank

SDRLF.PK, SDRL.OL.. Purchase..

Bought 488 @$7.80 $3,816.00

Position 1376 @ $7.87 $10,831.00

http://www.oslobors.no/markedsaktivitet/stockOverview?languageID=1&newt__ticker=SDRL

SDRL - Seadrill reports second quarter 2008 results
Tekst
Highlights
Seadrill reports net income of US$210 million and earnings per share
of US$0.53 for the second quarter of 2008.

Seadrill takes delivery of three newbuilds (one jack-up, one tender
rig and one drillship).

Seadrill secures contracts worth US$4.8 billion.

Seadrill orders four jack-up newbuilds for delivery in 2010 for
US$850 million.

Seadrill orders new semi-submersible rig for US$640 million.

Seadrill orders new self-erecting tender rig for US$210 million.

US$80 million gain on sale of jack-up West Titania.

Seadrill resolves to distribute cash dividend of US$0.60 per share.

Seadrill secures US$2 billion in financing including the sale and
leaseback arrangement for West Polaris.

Seadrill commences operations with deepwater newbuild West Sirius in
Gulf of Mexico in July.


Second quarter results
Seadrill today reported consolidated revenues for the second quarter
2008 of US$603 million compared to US$438 million for the first
quarter 2008. The revenues was impacted by gain on sale of US$80
million related to the disposal of the jack-up rig West Titania.
Revenues for the first half year were US$1,041 million.

Operating profit for the second quarter was US$132 million as
compared to US$110 million in the first quarter (excluding gain on
sales). Operating profit for the first half year was US$242 million
(excluding gain on sales).

Operating profit from the Mobile Units amounted to US$90 million as
compared to an operating profit of US$74 million in the first quarter
2008 (excluding gain on sales). The increase was mainly due to higher
contribution from the drillship West Navigator.

Operating profit from the Tender Rigs amounted to US$25 million,
which was in line with the preceding quarter.

Operating profit from Well Services amounted to US$17 million as
compared to US$10 million in the first quarter 2007. The improvement
reflects higher overall activity as well as positive contribution
from the newly acquired companies.

Net financial items for the second quarter resulted in an income of
US$7 million, a decrease of US$155 million. The first quarter
included gain on sales amounting to US$148 million.

Income before income taxes amounted to US$219 million.

Income taxes were US$3 million.

Net income for the quarter amounted to US$210 million.

Earnings per share were US$0.53 for the second quarter.








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