Irvine investment bank C. K. Cooper & Company initiates coverage of Helmerich & Payne, Inc.

C. K. Cooper & Company, an independent, full-service investment bank, headquartered in Irvine, Calif. announced today that it has initiated coverage of Helmerich & Payne, Inc. (NYSE:HP).

“We believe Helmerich & Payne, Inc. is the land drilling industry leader with its FlexRig (R) design,” said Lewis Kreps, Senior Research Analyst with C. K. Cooper & Company. “While the company has the youngest, most efficient drilling fleet in the world and an excellent management team, we expect declining earnings in fiscal 2010 from fiscal 2009 and only a slight improvement in fiscal 2011 over fiscal 2010. Based on current premium valuation to other land drillers at present stock price levels, we believe the stock appears over – valued. H&P is the Premium Land Driller in the group, however we recommend investors look for a lower entry point than current stock price levels and when the land drillers can see some pricing power, which is not present now.”

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C. K. Cooper & Company

C. K. Cooper & Company is a full-service investment bank headquartered in Irvine, California. The Company is focused on providing superior and insightful research coverage to its clients; innovative investment banking solutions supported by sales and trading services; and portfolio advisory and management services for private clients. Though C. K. Cooper & Company has been noted for a variety of measures of accomplishment, we chart our success by only one metric: The growth of our clients. For more about C. K. Cooper & Company, visit www.ckcooper.com.

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The information contained herein is not a complete analysis of every material fact respecting any company, industry or security. Although opinions and estimates expressed herein reflect the current judgment of C. K. Cooper & Company, the information upon which such opinions and estimates are based is not necessarily updated on a regular basis; when it is, the date of the change in estimate will be noted. In addition, opinions and estimates are subject to change without notice. This Report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Factors that might cause such a difference include, but are not limited to, those discussed in “Investment Risks.” C. K. Cooper & Company from time to time perform corporate finance or other services for some companies described herein and may occasionally possess material, nonpublic information regarding such companies. This information is not used in the preparation of the opinions and estimates herein. While the information contained in this Report and the opinions contained herein are based on sources believed to be reliable, C. K. Cooper & Company has not independently verified the facts, assumptions and estimates contained in this Report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this Report. C. K. Cooper & Company, its managing directors, its affiliates, and/or its employees may have an interest in the securities of the issue(s) described and may make purchases or sales while this report is in circulation.

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