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Gold/Mining/Energy : KOB.TO - East Lost Hills & GSJB joint venture -- Ignore unavailable to you. Want to Upgrade?

To: Bearcatbob who wrote (2490)	5/15/1999 4:38:00 PM
From: okey	Read Replies (1) \| Respond to of 15703

LIFE channel right now has the Boots & Coots Documentary of ELH .. It'll probably play again this week...check listings...

To: Bearcatbob who wrote (2490)	5/15/1999 5:00:00 PM
From: grayhairs	Read Replies (1) \| Respond to of 15703

Hi Bob, I do not know with absolute certainty who is receiving the proceeds of sale. But, I speculate that the proceeds are going to the JV. I do not know why they would go to the insurance company. The insurance company do not own the mineral rights, so why should they receive the proceeds of sale?? The insurance coverage was to control and replace the blowing well and to remedy the damages of same. The fact that hydrocarbons are being conserved and sold so as to minimize further damages would not, IMHOO, give the insurance company any right to the sales proceeds, BWDIK. I believe that the proceeds of sale will be going to the JV. At the same time, I doubt that the JV is paying the "current well operating costs" !!!!! :-) :-) :-) I am certainly no expert in this area of blow out insurance, Bob. I was fortunate enough to have completed my career in the patch without ever having an insurance claim under such coverage. Perhaps someone else can clarify the situation with respect to who is receiving the proceeds. Does it say anywhere on the EJ site ?? Later, grayhairs