You're not going to get a guy with such a history to ever capitulate, IMO. What did Chuck Colson (former counsel to R. M. Nixon) say before his prison stint? "Get 'em by their balls and their hearts and minds will follow".
What discourages me is that at this late stage, nobody seems to know what, if anything, Dragon owns, what their monthly net cashflow is (for any month), or if they have anyone with any downhole knowledge doing field ops.
You guys are going to have to have a guy with solid field experience, on the ground, every day, to sort all of this out.
The cheapest route would be to start with an audit and then have the documents relied upon quickly vetted by a good Petroleum Landman. That would cost about $300/day vs $250/hr for an attorney. Most atty's in the area have very good working relationships with a couple of landmen so it's a good way to save money, ie, having the landman take in an abstract of title for examination. Really, I doubt that you'll find that Dragon owns much of anything, except for some percentage of a HUGE amount of "provable reserves". Those numbers are commonly touted promotional numbers, and those reserves are ultimately recoverable. Here's the catch.... the field has been in production for about 100 years and about 25% of the oil has been produced.... so, absent a new paradigm, your billions in oil will be extracted over about the next 300 years.
Shoot the Biggest Elephant First.
LO
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