What can I say? Back in 08 I had some XOM and was reading a lot about the oil stocks and how they found oil and brought it up. I kept running across the name TransOcean. RIG which is a very appropriate ticker as they build the big ass ocean rigs the oil companies use. Their market cap is about 30 Billion. They get about $500,000 a day based upon current oil values (70-90). They were getting long term contracts for 700,000 a day when oil was 110 a barrel. The portfolio did quite well earlier this year with the stock. I got back in around September. It is about 3.5% of the Salve Lurcum portfolio and is even at the moment. It currently has a forward PE ratio of 8 which is cheap cheap cheap. Most analyst have target prices in the 100-120 range. I am a buyer on dips of this stock and consider it a bargain at any PE below 14. Recently there have been some great new 36 month and 60 month contracts signed with BP (Deep Water Horizon and the Sedeco Express) and some other interesting contracts for what are called mid water exploration. I am looking for $115 by mid year. At a PE of 15 I will take some profits.