• Approach Resources (AREX) started as Overweight at J.P.Morgan.
• Atwood Oceanics (ATW) raised to Buy at Banc of America.
• Cal Drive (DVR) started as Buy at Banc of America.
• Diamond Offshore (DO) started as Buy at Banc of America.
• Ensco (ESV) started as Neutral at Banc of America.
• Grant Prideco (GRP) downgraded to Hold at Citigroup.
• Gulfmark Offshore (GLF) raised to Buy at Banc of America.
• Hornbeck Offshore (HOS) started as Buy at Banc of America.
• Noble Energy (NE) started as Buy at Banc of America.
• Occidental Petroleum (OXY) raised to Market Perform at FBR.
• Pride International (PDE) started as neutral at Banc of America.
• Transocean (RIG) started as Buy at Banc of America; Jim Cramer also noted this one as being one of his top 5-year stocks with earnings visibility.

Jon C. Ogg
December 18, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the SPECIAL SITUATION newsletter and he does not own securities in the companies he covers.