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Gold/Mining/Energy : coastal caribbean (cco@)
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To: Edwin S. Fujinaka who wrote (2002)11/12/2000 4:00:49 AM
From: Edwin S. Fujinaka  Read Replies (1) of 4686
 
Another sleepless night thinking about the election <G>. In thinking about the idea that the State would make an offer to buy out the lease rights in total and then actually develop the leases themselves in a few years is a problem for any really long term holder of CCO stock. That was why I proposed my "delay in drilling" idea. If CCO is going to settle for a small fraction of the "real value" of these leases, then CCO ought to retain a stake in the future rights to the value of any oil that is produced from these leases. I did suggest that any delay of drilling could be for as long as the State wanted to delay, but it should cost the State on a yearly basis. I still think such a settlement would be in everyone's best interest, including the taxpayers of Florida.
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