louise, page-54

Don`t think the Court actions too much of an issue hammers.

The insurers should cover the personal injury cases from D & L#1 and if there is an excess the worst case for GGE is stated as $1m. Not nice for sure but we`re not there yet and the Company could handle it.

GGE themselves started the other outstanding case and the defendants counter-sued for slander. Likely will get settled out of court but GGE must feel sufficiently aggrieved at what their ex-partners did to divert time and resources to this so there must be a chance that a judge will see it the same.

The real worry were the class actions etc. relating to the blow-out. The plaintiffs obviously reckoned that they would never be able to prove negligence and settled. If negligence had been proven think GGE & its`partners were goners. In some ways the BP Deepwater Horizon disaster seemed to overshadow this case and may have contributed to lessening the consequences for GGE - in any event think GGE got lucky and that the last ann was quite a big deal for them.