Scott,
From what I heard at the Tele-conference, you are correct, the Pair Drilling is both awaiting approval & will not be "a go" until Bit. Prices improve on a sustained basis.
I am somewhat more optimistic than some here, since the CLL Ship is small & can turn around fairly fast when prices improve...I also believe Managements move to stop the Bleeding was smart with the delay in OPTI Nexen start-up. Anyone know what's up there?
As an aside
I am a long time S/Holder at much higher prices, & not excited by the present Stock Price.
GLTA & Here's to OPEC !!!
(Never thought I'd live to say that).
SB