From The Oil Drum web site:
Natural seeps can be thought of as natural springs from which liquid and gaseous hydrocarbons (hydrogen-carbon compounds) leak out of the ground. Oil seeps are fed by natural underground accumulations of oil and natural gas. Satellite images have identified hundreds of areas where oil is likely to seep from the Earth's crust into the waters of the Gulf of Mexico. These seeps occur over a wide range of the 615,000 mi² (1.6 million km²) Gulf. A 2003 study by the National Research Council and a 2009 report by oil spill expert Dagmar Schmidt Etkin indicate that between 560,000 and 1,400,000 barrels per year (1,534 to 3,835 barrels per day) seep into the Gulf of Mexico from natural sources. Dozens of natural seeps have been identified off the coasts of Louisiana and Texas, some in the region of the Deepwater Horizon site.
If you were in BP's position, wouldn't you want proof of causation attributable to the spill before shelling out millions? So, hell yes, the requirements should be - or should have been - that causation/proximity be shown or else all we have are questionable allegations and unattributable projected injuries by any Tom, #$%$, and Harry with an ambulance-chasing law firm backing them up.
" Judge Barbier's point, supported by quotes from BP attorneys at the settlement approval hearing, is that BP anticipated this exact situation of claimants with post-blowout economic losses of dubious connection to the blowout, but nevertheless explicitly confirmed that it wanted the court to approve the very deal that it now wants to renege on."
To that, I would only respond by saying that while BP anticipated the possibility of fraudulent claims, I don't see where it says it would knowingly accede to them. Nor should it, or have we thrown fairness, if not justice, out the window?
Not quite sure what that means. Are you saying they are basically eating their (our) seed corn? And, if so, why have volume and price been up for two days in a row if dipping into company capital isn't a good idea (except to the management at CIM...which confirms my worst suspicions about them)?
You are a disgrace with your inability to file financial reports in a timely manner, which will affect anyone who holds this stock -- make that laughing stock -- in any account, but especially in a retirement account. The incompetence and nepotism is nothing short of staggering. Shareholders should be filing suits against management if they haven't already, and YOU should have an army of accountants straightening out your books by the end of the year.
High volume pre-market but I'm not seeing any change in pre-market price on Yahoo. Either they haven't turned on their price switch or there is a very disciplined buying program going on.
I saw a very obvious bias in Barbier's background and behavior. First of all, it was reported that he headed up at one point the Plaintiffs Bar Association in Louisiana, which may very well tilt his views. Secondly, after repeated attempts by BP to get him to change the obviously distorted compensation practices of Juneau's operation, he he had to be overruled by the appellate court. That may put him under closer scrutiny and make him a bit more impartial in any final decisions, but the guy tipped his hand early on and should be watched closely before any premature compliments are showered on him.