This play just got better because we speculate our backer is a lot tougher to screw over then we have been on our own these past many years.

I couldn't agree more. Obviously Venezuela has earned its well deserved reputation for being a radioactive kleptocracy. Being put in the position to 'give away' 2\3 of our investment because Chavez is a lying, criminal is no fun....but given the situation, we couldn't have asked for a better partner. Chavez may be able to first stiff good corporate citizens like Helmerich to the tune of tens of millions of dollars of fees before stealing their rigs, but I'd like to see him steal the mining infrastructure built out by the Chinese.

Most investors don't dig any deeper than "Venezuela" before turning their backs and walking away. If this deal goes down as advertised, the "Hugo Protection" offered by our partner should enable our shareprice to rise over time.

From yesterdays Mineonmoneys post:

Helmerich Warns Other Firms After Venezuela Seizes Oil Rigs

You had to love this parting shot from Helmerich:

Helmerich said its future is partly reflected in rig building for "paying customers"