Oil futures hit $100 today ... is now a good time to buy Nabors Industries (NBR)?

P/E = 8.5Oil futures hit $100 today ... is now a good time to buy Nabors Industries (NBR)?
I think it depends on what rig counts do. In the US land rig counts have been flat for quite a while, and they have fallen for the last three weeks in a row according to Baker Hughes. US land rig counts rose only 5.7 percent in 2007, the worst since 2002. I dont know whats happening in the international markets Nabors participates in. The offshore deepwater drillers are doing well and Nabors has some exposure to that too. I like the workover business, both onshore and offshore. I think it could be a good investment with the international, offshore, and workover business.Oil futures hit $100 today ... is now a good time to buy Nabors Industries (NBR)?
sure why not make money