Going through that effort is a fiasco. Additionally, and most significantly, OME ultimately will pay for any claims settlements of business interruption through higher annual premiums. Insurance companies always win and it will be no different now. It may not take that long as you say since OME's insurance will pay out and subrogate its losses to maybe BP Petroleum which will take 5 years like you say. So OME's insurance premiums will skyrocket very quickly.
This is a terrible situation for shareholder's that were finally looking to see some daylight. The weather patterns blowing into the shoreline really sealed the fate.
Hard to know right now where the right point is to re-enter but its going to take some time to stabilize. OME holding the 50 day moving average of $5.31 as I knew that was its first stopping point. Would hate to think that the situation deteriorates and that the 200 day moving average of $4.63 is sought out.
Gonna stick it out again Ponze. Placed a limit order at $4, in the event we get beat down that bad. I am still stuck at $6.45 cant bail out now. Honestly I dont know what the hell to do. Cant wait to unload this POS.
I got out ... bought at 4.28, out at 5.38/9 wish I got out in the low $6 range ah well ..... irrespective of insurance claims, this will hit these guys hard in the upcoming Q's ...... even if the fish are not impacted (can't see how though) their operations will have to adjust, which will result in more cost/less efficiency.
Insurance revenue / lawsuit revenue, if it comes, will take years, and they're going up against people with deep pockets.