RE:Sequoia, Thanks Sue!She managed to get rid of the wells by selling them to Sequoia for a token $1, who had a business plan of taking all these free wells, abandoning those which needed abandoning and producing the remainder. They did manage to abandon a third before they went bankrupt. Perpetual did well giving the wells away, trouble is Lawyers got involved trying to point fingers at anyone who may have been remotely involved.
Most of the lawsuits against Perpetual have been dismissed with only one lawsuit left to be fought in court, which Perpetual has a very good chance of winning. The federal government has also committed a large sum to help abandon these orphaned wells which can also help.