GREY:STPJF - Post by User
Comment by
ShatnersRugon Dec 30, 2014 10:33am
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Post# 23271771
RE:RE:you know
RE:RE:you know
In truth, bankruptcy would be the best option.
Their debt is simply too high. Sure Senlac is a great asset, but 5,000 bbl/d is not going to put a dent in it. McKay is NOT a proven economical asset. I don't care what anyone says or what spin they put on the story. Injecting 100's of millions of dollars into a project for 2,200 bbl/d is an abject FAILURE in my mind.
It costs money to declare bankruptcy. Take the money from the Red Earth sale, ensure that whatever remaining LOYAL staff are taken care of for a few months, pay off the sheister lawyers, then lock the doors for good.