Clean Off-Shore Driller - Compagnie Generale de Geophysique-Veritas
Cramer picked French seismic surveyor Compagnie Generale de Geophysique-Veritas (CGV) for his first selection in the new stock series “clean off-shore drillers.” The company takes 3D seismic maps and compares them over time to give customers a more complete and accurate picture of a promising oil field, offshore and on. The company also has 4D technology that ups safety and production capacity and is less price sensitive. Cramer explained that CGV controls 60% of the market share for seismic equipment and the company is forecasting strong growth in Brazil and the Gulf of Mexico. He also mentioned that if Congress was to life the ban on offshore drilling it would be a huge benefit to CGV. Cramer advised investors to buy the stock for its growth and cheap valuation. Join the fastest growing community of small cap investors at Stockhideout.com
June 25th, 2008 at 9:41 am
I would agree with Jim that CGV should be a good buy, it does have 60% of the seismic equipment market but its services division seems to continually bid 20-40% below market rates presumably to take allow risk build backlog approach. This would be a star buy if the management in Paris could be changed out.