They have the rig under contract as Strat points out.
Presumably it costs less if the rig is idle, rather than active (emploee costs, fly-in/out, drilling materials. Just throwing a number up: $150,000 / day versus $300,000 / day.
As you say, they may be able to sub-lease it.
Pretty sad state of affairs.
Need to keep an eye of RAB Energy/Capital regarding their support for the capital raising.
C
bad bad day ahead - whens the cr ?, page-12
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