23rd Jun


Occupation: Other

Interests: Bonds, Stocks

Fantasy Fund: mmw holdings

Investment Strategy

Boring old value

Ignatius's Latest Comments

Not strictly related to Lamprell, but a little discussed Norwegian company has just dropped onto my radar.Fred Olsen Energy £FOE Drill rig rental and contracting via Dolphin Drilling Ltd with some manufacturing bolt ons, including the famous Harland & Wolff yard in Belfast. Fundamentals look okay.  Headline figures are P/E = 5.8 with the dividend yield a healthy 6% or so by my calculator.…

Well, I thought the report was very strangely phrased throughout and far too heavy on 'personality' issues relating to the BP team. On the face of it the root cause of the blowout appears to be the 'fault' of BP and Haliburton for poor well design and excecution but the lack of operational monitoring is also absolutely crucial and all three parties are seemingly accountable… If the Koreans are keen to do a deal it seems like they have a funny way of going about it. Cheers, ignatius

Hi guys, The Deepwater Horizon sank because there was a blowout, an explosion and an uncontrolled fire with an infinite fuel supply. As I said a long way back in this thread, the rig will have had a 'burn-down' policy embedded in the safety case. Nothing to do with ballast systems I'm afraid. As Mark says, the failure of the well control operations combined with…

Hi Mark, if BP knew about all these defects, some o fwhich may have compromised safety, why didn't they reject the rig as not fit for purpose? I suspect that they probably did and demanded that Transocean make good all the safety critical systems.  Transocean were 100% responsible for the safety of the people on board and the fact that these reports actually exist suggests…

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