GREY:STPJF - Post by User
Comment by
ShatnersRugon Jun 03, 2014 9:21am
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Post# 22623996
RE:RE:Breakup fee
RE:RE:Breakup fee
It's easy to estimate potential losses because of a delay to upgrading Senlac. $1.2 to $1.3 million NET per month @ increase of 2000 bbl/d
But McKay's portion of losses incurred due to capex restriction is a little tougher to gauge. We don't know to what degree the ICDs have been a success, and the ARE a success(at least on Pad 102). We just don't know by how much.
The capex freeze information was delivered along with the May 7th release. Although, because ICDs 3 and 4 were slated for installation starting mid-April, I'd have to assume that the freeze has been in effect at least since then. So, 7 weeks and counting.
At the very least it shows that the buyers are deadly serious about an outright takeover. To hogtie a company like STP costs big bucks and only one of the larger players has the backing to do so. My money is on Brion. They have two properties, one to the north, one to the south. The only obstacle would be the foreign entity ownership limitation and that can be worked out given time.
We'll know soon enough.