Zeev's Turnips Patch-No Politics (ZEEV)

[Gizmo]

Taken from Big Dog's BOOM Boom Room on SI

To:Big Dog who started this subject
From: Big Dog Thursday, Jan 9, 2003 10:23 AM
Respond to of 16639

From Morgan Stanley
Oil Services & Equipment: Opportunity Knocks - Drillers Look Attractive on NAV -Industry View: ATTRACTIVE. We like both the drillers
and service companies at current valuations. We expect the real momentum to be in the service names and land drillers once the
domestic rig count turns. But after the most recent sell off we see the asset-intensive offshore drillers as most interesting from a riskreward
perspective. We believe the OSX could deliver a relative rally from current levels on a US invasion of Iraq. Consensus "sell on
war" might be wrong given current valuations and strong option value in stocks.