RB,Thanks, I cant say I have any knowledge of the Century rig,...

RB,

Thanks, I cant say I have any knowledge of the Century rig, but let me say, I am of the opinion that it would be in the interests of both parties (CTP and Century) to resolve this situation with the mutual advantage of both parties.

There is no doubt that Central needs a reliable and competent drilling contractor, and Century needs to have its rig and employees working.

I suggest that (if that is correct as to new management) that this is the time for both parties to attend a mediation (Not an Arbitration. and try and come to a solution that both parties can live with.

In my experience as a mediator. there are no lawyers involved just the authorised parties representatives, who are assisted by the unbiased input of the mediator.

Approx 80 % of commercial disputes are resolved to the satisfaction of both parties at mediation.

What is attractive to the parties is that they “own” the solution and it has not been imposed on them from above along with extremely high litigation costs

The only costs that the parties are up for in a mediation is the costs of an impartial mediator, that is minor compared to the cosst of Solicitor and Barrister on each side and the preparation costs,

The mediation is confidential and not able to have the public attand. It is designed to allow great flexibility in the solutions arrived at.

In Court it is win or lose.

In mediation building a long lasting relationship is a significant factor.

Litigation is an expensive and uncertain situation and all sensible avenues should be pursued before the last resort.

Usually in a mediation, very strong and long lasting business relationships are created. the important thing is to have the right person on behalf of CTP in any mediation. some one who ahs been around the block a few times and able to think outside the square and arrive at a solution.

If both parties can approach mediation in that frame of mind, I see no reason why a solution could not be reached in a very short period of time

I would have no difficulty with Century returnuing to surprise, and completing the project.

I am sure (Positive) that they would be ultra cautious as to any mecanical issues

CB