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Gold/Mining/Energy : 25,740' WINFIELD RANCH JV PARTNERS -- Ignore unavailable to you. Want to Upgrade?

To: diana g who wrote (885)	3/5/1999 6:44:00 PM
From: Harry	Read Replies (2) \| Respond to of 1326

Evening Miss D We have been given the impression by our JV's that W has accepted responsibility for faulty pipe. There is no written facts that we have access to. A major brokerage that had issued a buy rec for one of the JV's also implied this in their release. The arguement is not who is at fault, but how much they will pay?

To: diana g who wrote (885)	3/6/1999 9:35:00 AM
From: Ed Pakstas	Read Replies (2) \| Respond to of 1326

Diana...First of all welcome to the thread... Secondly... I don't think it has ben printed in any NR, that WFT has out right stated the stem was faulty... It has been inferred, that because WFT and or their Insurance Co. have been paying the daily standby fees for the Nabors drill while this fiasco gets resolved, they are assuming responsibility for the supply of the faulty drill stem... Sources from various IR firms have indicated that the stem may have been weakend from a previous job that was contaminated with H2s gas... So far, all us peons have, is conjecture, rumour and nothing in black and white, other than what's just been reported by the jv partners... In any case, there is definitely a problem with the way the stem was breaking off in small chunks as they were fishing for it be it metal fatigue or whatever and someone is responsible for the supply of it... ...ed