Yes, quite possible for this figure to be quite high, however it will be interesting to see if the insurance for both parties covers their litigation costs. (most likely)
I would expect GDN to come out and advise their standing with relation to insurance covergae and its liabiliites with regards to legal expenses.
Agree that this will settle out of court and possible with some value of the claim being a credit for materials and works in future wells. Still receiving something is better than nothing.
However, in this situation if both parties have their rear ends covered with the relevant insurance, then there is no real anomisity happening between the two parties.
It would be a case of legal action would need to be instigated in order for the insurance cover to kick in and for the insurance companies to resolve regardless of who is at fault or whatever the cause.
GDN Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
