Deepwater Horizon

[gduke2010]

Ouch! This catastrophe could not only be devastating to the Gulf Coast, it has already cost me $$$. Transocean(RIG) is my #1 holding and Haliburton(HAL) #2. BTW, sold everything else off in 2007(thank God).

Anyway, it's apparent that a lot more oil is flowing into the Gulf than estimated, for eg. 5000 bbls/day is only a big swimming pool and the well is a mile deep and 41 miles from shore. Thats like spilling a cup of gas into a small lake while filling up your boat, the gas dissolves, and your not the only one spilling gas. Even 4X that amount isn't much compared to the volumes of water between the Deepwater Horizons grave and the Louisiana shoreline. I fear the flow could be even greater or the worst case scenario is being played by the parties involved reporting on the catastrophe.

I don't know, I don't have a science background and there seems to be some very knowledgeable people on this board. Anyone want to chime in?

BTW, just a couple weeks ago, I was excited about the $3.11/share RIG dividend.


Gary

[unclebilly]

2 other threads already going on this. One in OT and one in PAR...

[masraum]

This is very ugly indeed.

Now or in the near future is probably a good time to buy RIG. I suspect that they'll eventually go back up. In the last week they've been down nearly 33%. I wonder how low they'll go and when they'll be back up?