RE:RE:earningsCheck my post on service company liability. It's only limited to the value of service provided.
The oil company looses. Standard service company terms and conditions in the oilfield cover this off very very well and you should not be worried about cumulative liability from all subsurface costs and especially interrupted business loss. Not on the radar.
The big calamity is loss of brand brand name over this episode and other oil companies suffering the malfunction noted earlier on this board.
What has really rocked the boat is non transparency of material change known by the executives at A time when they were raising the 85 million. The legal system may have to relied on to show more as well as expert witness which will prove the signature at surface left during the operation had shown distinct signs of failure contrary to news releases later especially at a time when additional
funds were being raised.
Some ask ask if it's fraudulent and if legal action is warranted by shareholders.
The fracs were said to have been pulled off successfully but we know now they were not and the surface data gathered by the frac company should have been a clear signal of failure during the frac.
Of course some clowns are being silent on this because they know they are at high risk. Their lawyers have probably instructed them to say nothing at this time.
Next will be the attempt to secure the frac data. Where in the heck did all the sand really pump off into.
This will be an interesting saga indeed. Watching watching watching as many other past and present shareholders are in disbelief.