They Are Now Saying Could Be Much Worse Than BP!!!
Wow!!! It is amazing that these things have a way of repeating themselves...I guess it will be better to sell now and ask questions later....I remember how BP dropped preciptiously!!! I never want to experience that pain again!!!
If you believe what you wrote, You shouldn't be in the market. You need to read more about the other two % owner in the drill site. This is just a Nat on the balls of an Elephant compared to the BP site. If you had bought BP at the time, you would be way in the money.
You are obviously long, which is fine. And I am short. If you notice this follows the BP news cycle to the letter. You should probably think about shorting Rowan the owner of the rig. I don't see how evac procedure, or the casing leaking, bothers you so much. Maybe you should volunteer, to head on out to the deck. The gases leaking aren't toxic was the report they just put on CNBC. If the gas displaces the oxygen, the out come won't be good. People are overcome daily by CO2 leaks at fast food chains, they may not die, but they pass out until someone pulls them away from the leaking CO2. So you have to take whatever they tell you with a gain of salt(not sugar). If it is all so safe, where are the crews? Not on the production platform, or the drill rig. Just for the record I am for oil drilling and production, and the "Age of Diversity" occured while Co2 levels were double what they are now. You are in the coldest period ever of earths 4.5 billion year history. Co2 reduction is eugenics.
It will be worse on earnings. BP was a single well. This a a production platform and a well. The well is right next to a production platform. That platform is shut in, which is 3 products shut in, condensate, gas, and oil, that will not be sold while the platform is closed. That's a lot of revenue. ENI is the other major owner of the production platform. If that well blows up, that entire production platform complex wil lose all the hook ups from all over the field. That feed into that production platform.