A quick calc to see whether the bod are concerned.
Ok they have had good salaries for a number of years.
They sold a million shares in 2011 for 3.83. Would have paid half in taxes and had to finance their move from Aberdeen to Guildford. They were buoyant then and bought back their shares at 1.28 and 1.18. Ouch they must be feeling that especially as they may have originally re-mortgaged or sold property to get the company going.
With the cost of the Mariner platform STO probably very happy to let the Bressay yard option lapse, likely was just being kept on as a formality, XEL had already shown them how to do the field at half price to their original budget, before the latest cost savings can be applied.
CC - Once again thank you for the feedback which particularly useful !! Not sure I agree with the lack of interest from Oilers as I see this as a bargain pick up with a discount on what the BH are owed. IMO the BH will call time and have a buyer in the background and then goodnight Vienna !
On the Admin front the only key consideration for the Admin will be that the firm running it will string it out for at least 6 months or possibly longer under the pretence of getting best value which leads to large fees and the same result as a fire sale.
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