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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Sharp_End_Of_Drill who wrote (16275)	8/30/2002 11:43:03 AM
From: jim_p	Read Replies (1) \| Respond to of 23153

Sharp, 1. When Conoco merges with Phillips, it triggers a "sale clause" in the seismic contracts in both of the libraries. The estimate of $50-80MM is from PGO. 2. The Banff contract is losing money. There is a new well being drilled in the field which may or may not solve the problem. PGO also plans to either move the vessel or re-do the contract in the 4Q if the vessel does not become profitable. I assumed they get it back to a break even in the middle case. How much it can be improved can't be predicted. Weshallsee??? 3. The public bonds due in 11/03 are about $250MM. They have no choice but to pay these of file for CH-11. I'm assuming Atlantis sells and $175MM is paid to the banks which is the current requirement. I'm assuming they will be able to renew the $75MM balance, which may or may not happen. The reality is they may renew even more than the $75MM. Hope that helps. Jim