News Focus
News Focus
icon url

kajulie

08/27/10 12:14 PM

#2788 RE: SeaOhToo #2787

no one bought yesterday? Are you sure about that? I don't criticize DD, just misleading statements. Big diff there.
icon url

downsideup

08/27/10 3:06 PM

#2800 RE: SeaOhToo #2787

I think it is "all lining up"...

But, that doesn't appear to mean there is any agreement on "what" is being lined up, or "when" it is likely to happen ?

Looks to me like there is a plan to posture assets with the hope investors will fund the "development" effort required to allow them to refurbish the field, and then, after that is done, you might expect the assets will be transferred off to "someone else" to have THEM exploit the potential value that exists in enabling the tertiary recovery that will be required to make any EXCESS value accessible.

Doesn't look like any of that will be able to happen any faster than "in a couple of years"... and, the faster they TRY to make it happen, the less and less useful it is for current investors.

The "best case" seems it would be for them to do exactly nothing until oil prices have moved high enough that they "might" be able to extract the oil there is available to take, without it costing more to extract it than it is worth, with them losing your money for you while they are doing it.

Otherwise, if they were to fund the development effort required while NOT producing it... ??? Where would the money come from to do that, and how would you justify doing that now... when other uses of the money would be obviously more attractive ?