Back Hawking Ocean RigOcean Rig was one of my favourites early this year, it is finally over that $1 barrier after getting that NASDAQ warning. There was even threat of bankruptcy. The firm is still profitable, even through the worst of the Oil decline. I think there is still value here and this could still be a monster buy.
ORIG
Ocean Rig Is Looking Like A Real Monster BuyOcean Rig is a big play. Seems like we are correcting for a big buy the dip. I could be wrong but ORIG has some good financials around revenue. Despite Oil prices declining, this company still manage to show a profit of $80m down from $250m, the reason, good cost reduction, tells me this company has solid management, that can anticipate downturns and have the balls to act.
As Oil makes a recovery ORIG is one of my definite buys. It will be a solid gainer. It is a question of when not if.
