RE:Slight move..again on rig Ok, my company man good friend and source says that they cannot skid the rig without unlatching. So if they skidded then they're unlatched. I've sent him a message to find out if they can unlatch riser leaving BOPs latched to well head. So did they unlatch just the riser or both the riser and BOPs?
This is a question for people who have been part of this process. I've never been part of an unlatching event on a live well. As far as who is buying and selling, I haven't got a clue. But I bet that Bay Street knows who is involved and their response has been encouraging to me. I keep on coming back to my stupid, fancy financial accounting book. Any company who has an over 70 million dollar deficit in working capital (current assets minus current liabilities) and has never produced operating revenues in over 25 years and has a 303 million dollar deficit in share holders equity would have been dissolved and delisted years ago. They have something there. Bay Street knows it. It's now a measuring game. How much? What's it's present and future value? How much has oyl's total assets increaed? Can they leverage it into working capital? Etc