It's definately a strange situation we have
here.One one hand it has been suggested that
Baytech initiated the stop to fishing ops.To
that,my question is why?-It would seem that if they
stepped in at that point,the ongoing and daily
rising amount of the claim would stop right there
and they would only be able to claim production
loss from the time the pipe broke up to the time
they called a halt.
On the other hand it was told to me that WTR
gave up trying,because they could not get it.The nr
suggests more of the latter to me ie<<<efforts to
fish out the stuck drill string were not
successful>>>.However if this was the case,and WTR
gave up,then it seems the claim should be
continuing to increase daily right up to settlement
date.If that was the case
then a settlement should have been resolved very
quickly. I fail to make sense of either of these
situations,and facts are very hard to come
by!!-especially from these outfits!!-
--Apart from the fact that I don't know anything of
the current situations,what I'd really like to know
is:When will courtdate be??-That sure would help.
--In the meantime,I am expecting testing ops.to
begin shortly on upper zones.(hoping!)..How long it
takes to get going also depends on numerous factors
-Here's one:will they move the drilling rig off and release
it(I'd hate to see that),for a less expensive
service rig?-However if WTR stops paying for it,
that may happen..
--How the jv testing of these 2 zones will
strengthen
the case against WTR I don't understand-fail to see
the relationship.
--Also with Baytech being the operator and filing the lawsuit,the jv
probably can't touch the well to try pipe removal
on their own,even if they could afford
it!!Plus,it's prbably WTR's ins.that would be
paying so trying to sue WTR for every penny is
unlikely to succeed.However,their ins.premiums
would probably cost a bit more!!-Just some thoughts
..Have a good one,chat later...LP
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