25,740' WINFIELD RANCH JV PARTNERS Message Board

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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS

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To: Diamond Daze who wrote (814)	3/3/1999 10:48:00 PM
From: Ed Pakstas	Read Replies (2) of 1326

DD... Are u losing it or what???... Have u ever been involved in an insurance claim... During the recession in 81 and 82 I was a licensed private Bailiff (repo man) in the Prov. of Ontario. I worked primarily for a lawyer, that did nothing but sue people... Did you know that nine times out of ten, these lawsuits got settled before they even saw the front steps of a courthouse. Insurance companies know the cost of litigation lawyers and believe me when I tell you, they ain't cheap... Keep in mind, that by virtue of the insurance company paying the standby fees on the rig, they already inferred liability for the damage that Weatherford has caused by its negligence... Dollars to donuts, this gets settled before it even gets to the preliminary's or shortly thereafter... The lawsuit has been filed, liability has been inferred, it's going to boil down to how much they gotta pay... >>>consequential and exemplary damages<<< There's the hang up... Besides that, it sounds like they are getting ready to get the existing cash flow motoring from the three zones they already know about... Question is, how big are they???... ...ed

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