Put your fingers in your ears and keep humming. You'll feel better. Cover your eyes so you don't see the price drop.
Fact is the entire field is shut in. As THE operator that is a problem.
TOT is working on 3% to 5% margins, if 3% to 5% of their production is shut in, how do you think that will affect profits in this quarter? and next? Relief well is 6 months away? If they decide on a relief well this quarter. As a state run enterprise any decsion like that could be years away? Mean time production is shut in and fines mount. They are going to need a lot of EU cap and trade carbon tax credits to offset this leak, that's going to be expensive on top of the fines.
Keeping the oil in is tough job, but some one has to take the heat? Why not TOT, it needs to be consolidated? Rowan the drill rig operator has to be scrabbling to get TOT to make a decsion? Some group not liking Rowan buying the UK drilling business? Perhaps.