please explain, page-6

daily rig cost is in excess of USD 360,000 if they got a good rate and force majeure is a tough claim let alone so called insurance claim and what flows through to partners is a issue. add up the days and the numbers are huge and standby discount day rate is higher than most think. all depends on original rig contract and leverage partners can place but many a case has ended court case starting before settlement.


partners can survive delays and NEN would love the invoice never to arrive so they like the delay as they still have a dribble coming in from USA fields to keep them solvent.

Not sure what if any value is left in the Vietnam fields but if a partner wanted them they won't pay much especially when they know the counter party is on their knees

The USA needs workovers so they don't just throw off cash but need $ set aside to keep production levels up so beware anyone touting barrel prices and current production volume without knowing costs .

Office expenses- well just how much do these guys need but cash still flowing out as if they were a much larger more active company