Lou, From what I remember, the monthly monies paid by BD to Four Star took a HUGE jump several months back and kept climbing. If you still have that spreadsheet - can you tell what, if anything changed to cause that continued spike?
If memory serves, the monthly production figures were fairly static - in the 3000-5000/BOE/mo range.
The term "cash cow" appears to be quite appropriate. Lanzas benefit substantially - whilst BD shareholders may be the constant losers.
My own opinion - Lanza, the consummate con-man, has no intention of losing this cash cow. Given his history, I can well see why.
Any suitor would see the Revenues, see the expenses, and make a judgement call based on current production, potential growth, oil demand, etc. Barry likley understood the payments to Four Star and saw the profit potential if BD was ever taken over and run by capable, honest, management - driven by bottom line results and intent on reducing expenses and improving efficiences. Those qualities, IMHO, have no accommodations in Lanza's world - except when it comes to his own pockets.
As always, JMMHO.
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