white elephant drill rig

As if,the millions lost in GPs share trading strategy wasnt bad enough,if we look at the drill rig and the loss of earnings that come with it CIGs, position gets rediculously worse.
purchased for US$3.5 million plus the upgrade circa $2million,
if we look at a day rate of AUS$50,000 way conservative, but lets stick with it, at only a 50 % hire out rate weve got to be $30-50 million less costs of course out of the money.
What a white elephant indeed.