coastal caribbean (cco@) Message Board

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Gold/Mining/Energy : coastal caribbean (cco@)

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To: ToddEsse who wrote (2012)	11/16/2000 1:03:12 PM
From: Edwin S. Fujinaka	Read Replies (1) of 4686

You said there were two WSJ reporters mentioned in the article, do you remember the other one? Also when was the article on natural gas published? I am probably going to send out some Email stuff to whoever looks like they might follow up in the media. If anyone contacts any media people, you might even mention this Silicon Investors CCO Topic as a source for information. I realize that very few reporters would want to spend the time to read through this thread, so I've tried to reference the Oil & Gas Journal story on the Apalachicola Embayment, "tens of billions of barrels..." and the Detroit Free Press story on Miller Oil getting over $8/barrel in their successful inverse condemnation lawsuit. I've also sent out the Appeals Court Ruling that included the Judge's comment on "just compensation" being due. When you tie those three items together, you can reasonably (or unreasonably <G>) make a simple calculation that arrives at my $100 billion number for Florida's potential liability in this case. I am actually somewhat surprised that our story hasn't gotten any traction in the press except for the NewsHerald quoting my $100 billion number. They did it with a straight face and didn't paint me as a raving lunatic, but I think the number is too big to register in people's consciousness. In the long run, I am still promoting my "Delay in Drilling" solution as an alternative to a negotiated cash settlement. I'm concerned that a negotiated lump sum will not reflect the real value of the property lost through condemnation because the real numbers are too big for Florida to pay in a lump sum. My proposed solution included a relatively small lump sum payment up front and modest yearly payments to defer drilling for as long as Florida taxpayers wanted to defer the drilling, possibly forever. I originally suggested a $500 million up front payment and a $50 million/year fee with the yearly fee escalating by 15% each year. All the numbers are negotiable of course. It's actually pretty simple when you think about it.

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