Sevan Drilling (SEVDR), a Norwegian oil drilling company that went public in May at 8 (Norwegian) Kroner a share, has tumbled to less than 4 kroner primarily because of the financial distress at its former parent, Sevan Marine, which has nothing to do with Sevan Drilling.

FORBES: Five European Gems At Bargain Prices

Marcus estimates the value of Sevan at more than 11 kroner, based on the price of other oil drilling companies in Norway that had been acquired.

FORBES: Five European Gems At Bargain Prices