You probably right about oil prices not getting back to 70.00 anytime soon. If it does, bet rigs and added production in US would come back on line and drive it back down...
I agree the outlook is not good - Tom Ward seems to have had perfect timing - the hedge fund boys made his life with the golden parachute that he left with. He could not have foreseen the drop in oil but I think he knew the Miss play was over hyped, as sorry as he was to SD he was still the smartest guy in it's management so far. BK might be a way out next year if they can cancel the shares (to kill the preferred's) and still hold on to some assets. Gonna be tuff either way before the year is out. Lehmans put all their preferreds into an equity pool that is still locked up - the Captiol trust shares are still trading today - I have some CTS and Preferreds also = made some good money on the CTS so far but I fear they will cancel everything once the BK(liquidation)is done unless they spin off some kind of new company which could happen although unlikely.
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