gozomike yes foo bought all that drilling equipment over two years ago,WHY?. Its probably sat somewhere rusting away. wonder what the scrap value is worth now? couple hundred £. another master stroke by foo, of load his tat on to us.?
has to pay. well the fact that foo has stated first that he would still have to pay $20m, then a few months later dropped it to $10mill god knows what it is now after another 6 months. like someone said, it could be down to us giving him a rebate.
We will need expertise to do the drilling , possibly from our inhouse drilling expert KF and his Company CHL, but dont forget that VOG bought the drilling equipment from the previous contractors for $1 million when we bought out their share of the royalties for a further $5 million. This time CHL, or whoever, should be paid for the drilling and not get royalties at all. In my opinion. Anyway that will not be until next year this time when VOG have loads of cash in the bank.
Thoughts of the Loggybog, can't think anything on BB like this have any effect on the COM/SP at all, Also the consol do's not alter the basic running/state of the COM only makes the SP more atractive to larger SH/FUNDS ect. Also some comy's with lots of small SH like people on this BB?, have been known to get rid of them by making a base share holding effective after consol, not saying VOG will do this, just another thought anyway DYOR ect.
I think some guys are way over optimistic about an Rsm payment. He paid $4m as per the Arbitration, then paid an agreed $16m out of the $26m requested, then Rsm & Vog when for an audit. Vog did say they ''might ''have to pay Rsm back if that is what the findings declare. So the disputed extra $10m can not be taken for granted by any means!!
So that leaves us with Rsms 40% share of costs for this year, if Vog have spent $20m, then Rsm will, if they have not paid anything so far, pay $8m. If they have been paying cash calls, then we are down to what the audit says & that is at the very most $10m!!
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