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BurrenBoy.
"Who's in the driving seat now!"
Obviously you. Have a nice ride in your dodgem-car.
Burrenboy,
"Yes but they can invest the 100 million into a completely new venture that might reap great reward."
What don't you understand?
100 million is peanuts in this evironment. Hurricane is now in a bind. Do more (which will cost momey, which will have to be found somrwhere) or shut down? That will also cost money.
I don't think you underdtand how much it costs expenditure to run an oil opertation of this sort. Nice to see an 'offload' from time to time. But you're talking hundreds of thousands of dollars per day costs.
Something they just stumble upon, perhaps!
Game changer!
What if they suddenly find an oil field with billions of oil in it, and they manage to get the license.
Yes but they can invest the 100 million into a completely new venture that might reap great reward.
BurrenBoy,
"What with over 100 million in cash!"
100 million doesn't go a long way, given the sort of game that's going on. Heck, I'm (now) a grizzly oldtimer dinosaur from way back when' But not brain-dead, and I remember with a certain fondness being involved with the commissioning of Conoco's Murchison platform in 1981, and the drilling of the first four wells. (The first one in a real hurry to meet an October 1st deadline to hit 'online' status, officiated by the Duke of Gloucestershire. Can't keep nobility waiting. Scary work.)
(Murchison has now been dismantled and infrastructure removed, though at an undisclosed sum which probably far exceeded that of installation.)
For a few days, Conoco broke 'dayrate costs' N.Sea records, what with all the people, vessels, and infrastructure installation, not to mention the office in town. For a couple of weeks, the entire operation was chewing though one and a half million a day. And that was back in 1981. Convert that to 'today's money'...
Who's in the driving seat now!
HUR could give special dividend and the moneys gone.
Then they get a weak negotiating hand.
Bondholders cant wait till 2022 because the money might have been spent.
They could buy other oil companys with that.
They dont need bondholders permission to invest that money.
What with over 100 million in cash!
0.0015 more likely.
Do they have an ace up their sleeve or will the sharks take them out....
Not sure the shades are working ...