SUBSEA RESOURCES: A possible Treasure Trove

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tombarr - Thu, 22 Dec 05 :

Lottery. Sorry to disabuse you Bello, but please write that off. You will get the same answer from the company.

Celia - "less than full recovery". I would not get at all exercised by this.

It is simply a prudent statement reflecting the fact that there comes a point in every salvage exercise where the marginal recovery rate (because it is harder to get the last bits)is exceeded by marginal costs. Hell, they even left a few bars of gold on The Edinburgh. The company could not mislead on less than 100% recovery as it is an operational fact. SUB should get a good recovery % in any event on Celia, as it's a proven prospect.

It's the statement regarding Ella that continues to puzzle me.

Edit: Lottery Money is there to piss up on self evidently insane white elephant projects such as the dome, and to provide a nicely filled trough for the privileged professional classes and fraudsters to stick their snouts in. Not for supporting commercial enterprises.


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