I wonder if I'm the only one who thinks the SH *ELH board has morphed into the SH *LoonyWard board. People are climbing over each other over there to outdo the last guy in the way of nefarious conclusions and evil conspiracies. And just in time, some of the old wacko posters have reappeared to help out.
While it's becoming pretty obvious Anadarko has dropped the ball or is stalling on the testing and drilling the water disposal well, to buy into the rest of what's being alleged, you almost have to believe the whole APC brain trust is working overtime over at the the dirty tricks department, scheming to focus on wrestling away the interests of powerful TMK, HTP etc. Never mind that this company has a $4 billion annual investment budget, operations in maybe 20 some countries, and about 50 rigs operating in North America alone, in places like the N. Slope, the Gulf and Western Canada.
So, right! In this Enron climate this company is dumb enough to engage in dirty tricks and open themselves to huge punitive damages! I find it much simpler to believe that they don't want results right now. And as for the controversy about the letter for paying up, I find it easier to believe that their accounting is in a mess with this project. It makes more sense that they're simply trying to clumsily straighten their books, but the left hand doesn't know what the right hand has written in the ledger. They haven't paid anyone for production since #1 was brought online, and they can't really provide the JVs a detailed breakdown of the drilling costs. I know PYR has paid their costs, less what they're owed for production, and I'd guess ELK and POU have as well.
This is not Anadarko's finest hour, and they've got a shameful record on this project, but another Watergate (pun intended)? Get real!
Bottom line--the choices are, join the frat party over at SH or take a nap. I'm betting it's not "lights out" on this project yet. Somebody has merely turned down the dimmer switch for awhile. |
