Ok, this is probably way too simplistic, and I'm definitely no expert in this field, but what do people think of the following points?
1. Galoc is based in an area which gets affected by the monsoon every single year. Therefore, surely the operators would budget for a fair bit of downtime during July-September. Among the expenses during this down time would be lease of the FPSO.
2. Given the bad weather since the end of June, it's likely that Galoc would have had to stop production for most of this time anyway.
3. If that is the case, does the fact that Galoc doesn't have to pay for the lease of the FPSO since early July (as announced today) - mean that they are better off than they would have been with no breakdown?
Yes, no cashflow and revenue, but at least not too much in operating costs?
Or is the amount involved meaningless anyway?
Just looking for a silver linging here...
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