The Sing government always intended to use the land for higher value purposes I understand. It's always been very much the case that the lease was time dated.
None the less, what is your point about the Sing site?
The original Jaya purchase documentation details the leases on slide 33 (by page numbers on bottom of slides).
http://www.mmaoffshore.com/images/mma---eethoogief.pdf
It's a interesting read tho this old document ... You can see where it all went so wrong. They paid like 5 times the historic revenue (at market peak) and ten times the market peak revenue for a company that then needed more cash injected to go and build new builds that by and large didn't have any work to go to...
None the less given the dramatic oversupply in Sing I really don't understand why that site would be at all important. I do understand the importance of the Australian sites..
The guys that brought Jaya are still in charge and good luck trusting those guys that made these blind obvious mistakes to go and fix them!
The Sing government always intended to use the land for higher...
-
- There are more pages in this discussion • 44 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
