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Gold/Mining/Energy : coastal caribbean (cco@) -- Ignore unavailable to you. Want to Upgrade?

To: DrAllan who wrote (1232)	1/3/2000 7:55:00 PM
From: Edwin S. Fujinaka	Respond to of 4686

Both Phil Ware and Bob Angerer (Chief counsel for CCO) should be aware on my suggested proposal for a paid delay in drilling. I say "should be" because I have communicated directly to both of them about it and Angerer has indicated that He is aware of it and it is under consideration amongst all of the avenues they are considering. I have never heard any detailed analysis or objection to any of the features of my plan. Actually no one on this board appears to have any real objections either. To my mind, the logic of the form of my proposal is compelling (even if I do say so myself). The details of the dollars can be worked out to cover almost any range of estimated amounts of oil or damages that anyone can envision. On the other hand, a hard nosed negotiator might just say we are going for the whole enchilada. We could just let the inverse condemnation takes its course through the courts and let a jury decide a total lump sum at the end. This could take another three or four years of litigation and could result in a multibillion dollar judgement if not the $100 billion that I am throwing around. If the lawyers do not make an error, I don't see how CCO can lose this case in the end. So far, Jeb Bush has not taken any action that I would consider to be the blind, hostile, adversarial position shown by the previous Democratic administration of Chiles. If Jeb indicates that He is following the path of Chiles, then I would forget any idea of negotiating and I would not propose my compromise deal. I would take the case to it's court mandated end. A big win for CCO in court would be a political disaster for Bush. A negotiated settlement that is creative and fair may not be a political plus for Jeb, but it could be turned into one if everyone can agree that there is likely to be a major oil find just offshore Florida. Beyond all the hype, I would really like to know what the truth is here. Even if there is no oil there, I'd like to know. CCO was a "bet" on there being oil and like all bets, there is a chance that we will lose everything. On the other hand, we have every indication that we ought to win the bet so it is reasonable to anticipate a pretty big payoff (and I don't mean $5/share).