The rigs that would be acquired if the LOI comes to fruition are workover rigs (post #12598). They are not a substitute for the rigs that schlumberger leases to BIGN for $50K a day(post #12157):
1. They don't appear to have access to any good rigs other than leasing them from Schlumberge.
2. When I asked about what kind of rigs came as a part of the LOI, I was told that they were work-over rigs and that they were not suitable to substitute for the ones they are having to lease from Schlumberge.
So I don't understand why certain hypochondraics among us, who need to be reminded to take their meds DAILY, are making it sound like the acquistion of the rigs via the LOI is a matter of life and death for the stock. The completition of the LOI will not expedite the process of leasing a Schlumberger recompletition rig on demand.
I will be just happy if BIGN just focuses on getting us many well slotted as they can. With each well completed, the experience and knowledge acquired makes it more likely the next well would be completed even faster.
News 
Market Data 
Discover 
