H&P is the best positioned contract driller in the universe of drillers that are comparable. Only at 6.1x 2010E EBITDA, which is a discount compared to others. I need to always be exposed to this sector so I am of the opinion it is best to weight in favour of HP -- I expect the valuation discount to narrow in light of the company's higher-spec rig fleet, still high level of contract coverage and superior operational track record. While I expect continued weakness in U.S. rig activity, I believe H&P is well positioned to maintain above-average utilization levels through the trough and should lead the recovery when utilization levels improve.

I suggest fellow board readers also look at http://energymarketwatch.net/ode.htm where Odyssey petroleum is poised to go much higher. I called the company and everyting presented in the article is true, according to my calculations the share price will at least double according to basic valuation metrics.