Hercules Offshore benefiting from oil price hike.(Nasdaq:HERO)

Hercules Offshore, Inc.,founded in 2004 with its headquarter in Houston,Texas is a leading global provider of offshore contract drilling, liftboat and inland barge services.
Their fleet of jackup rigs is the fourth largest in the world and the largest in the U.S. Gulf of Mexico. Apart from this it also own and operate the largest liftboat and inland barge drilling fleets in the world namely Middle East,West Africa,India Mexico and Malaysia.
The latest crude oil price hike breaching the $100 mark is benefiting the company in the short term due to geo-political uncertainty currently happening in Libya.
Top Institutional Shareholders @31 Dec 2010(fiscal year)
VANGUARD GROUP, INC. (THE)=5,953,161=5.19%
DIMENSIONAL FUND ADVISORS LP=5,675,079=4.94
Ameriprise Financial, Inc.=4,271,093=3.72
BlackRock Fund Advisors=3,333,857=2.90
SCEPTER HOLDINGS, INC.=3,325,571=2.90
PRICE (T.ROWE) ASSOCIATES INC=3,230,979=2.81
STATE STREET CORPORATION=3,191,265=2.78
BlackRock Institutional Trust Company, N.A.=3,130,259=2.73
PIONEER INVESTMENT MANAGEMENT INC.=3,068,622=2.67
FMR LLC=3,025,000=2.64

Top Mutual Fund Holders:
FIDELITY LOW-PRICED STOCK FUND=2,600,000=2.27
PIONEER HIGH YIELD FUND=2,437,937=2.12
DFA U.S. SMALL CAP VALUE SERIES=2,245,908=1.96
PRICE (T.ROWE) SMALL-CAP VALUE FUND=2,000,000=1.74
VANGUARD TOTAL STOCK MARKET INDEX FUND=1,685,024=1.47
VANGUARD SMALL-CAP INDEX FUND=1,612,876=1.41
ISHARES RUSSELL 2000 INDEX FD=1,504,449=1.31
RiverSource Equity Ser-Columbia Mid Cap Growth Opportunitiy=1,499,851=1.31
VANGUARD SMALL-CAP GROWTH INDEX FUND=971,697=0.85
ISHARES RUSSELL 2000 VALUE INDEX FD=936,284=0.82

Balance Sheet @31 december 2009:
Total Assets =2,277,476
Total Liabilities =1,298,964
Total Stockholder Equity =978,512

Net Tangible Assets =978,512

Cash Flow:
Net Income =(91,734)
Total Cash Flow From Operating Activities =138,919

Total Cash Flows From Investing Activities =(60,510)
Total Cash Flows From Financing Activities =(44,036)

Change In Cash and Cash Equivalents =34,373

In the news:

An announcement in February says that it is to acquire rig assets from Seahawk Drilling Inc(Nasdaq:HAWK) which is in Chapter 11 bankruptcy proceedings.

HAWK is selling 20 shallow-water jackup rigs for US105million effectively liquidating the company.

With this acquisition,HERO will be cornering more oil drilling jobs thus enhancing the company's profitability.

On the 9-Mar-11,the company will be making its earnings announcement so investors are buying ahead in anticpation of a good financial report.The share price has been on the upward bias and is currently hoovering near the 52 weeks high.

January was a bearish spin within December's upper candlestick body(that is the bullish section.)

The current month candlestick is a bullish inverted hammer and it stands a positive chance of a major breakout of the 52 weeks high.

The Dow Friday is 10 market days to index/options expiry.
We are now 3 months 26 days to Quantitative Easing expiry withdrawal.

Economic calender today:Employment situation{market moving indicator}:Factory Orders.

9:30am:-A bearish shooting star candlestick opening.

10:30am:--The Labor Department said Friday the economy added 192,000 jobs last month, triple the number in January, and the unemployment rate fell to 8.9 percent from 9.0 percent.Index holding near session low but there were hammer candlestick.

11:30am:--A second failed attempt near session bear pivot resistance.

12:30noon:--Higher oil price is causing s sudden spike down.

1:30pm:--A new day's low,a bullish engulfing hold back further slide.

2:30pm:--Bulls holding positon near the bear pivot resistance.

3:30pm:--A triple dip,bullish engulfing.The ISM Service index rose to 59.7, the highest level since 2005.

4:00pm:--A last minute ascending bulls ending with a bearish spin.

Fed Chairman Bernanke delivered his semi-annual policy report to lawmakers. He was optimistic about the economic outlook but made no real revelations.Meanwhile, unrest in the Middle East continues to stir up the commodity market. Oil prices rallied 7.3% hitting a multi-year high of $105.17 per barrel. Gold increased 1.6% to an all-time nominal high of $1441 per ounce.

Friday's market has wiped off previous day's gain but has recovered and held comfortably within current month bullish zone.It is in a bearish hammer pattern.Another dip will be the lower shadow range till Wednesday's bullish spin coverage before it stabilizes.Meantime fasten your seat belt.

In the event geopolitical tension in Libya is still not being solved,the current oil shock will continue till October's Hurricane season in the Gulf of Mexico and we are all in trouble.