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

To: Harry who wrote (918)	3/10/1999 7:42:00 PM
From: Don Richards	Read Replies (1) \| Respond to of 1326

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