OIL & GAS PIPELINE INFO

[hotping]

Hey guys!  I'm stilling wrapping up the changes to the timeline, but came across this post from Jen in the discussion threads...thought it would be better to archive it here than leave it kind of buried there...

jen3560
Re: Natalee Case Discussion #815 4/8/09 -
« Reply #78 on: April 09, 2009, 09:46:02 AM » 
http://scaredmonkeys.net/index.php?topic=4827.msg760020#msg760020
--------------------------------------------------------------------------------
OK bear with me guys - this may get a bit convoluted.

Was the reason for the Persistence being in Aruba already fulfilled?

In 1978 the Netherlands signed an Treaty with Venezuela, giving it the rights to the Exclusive Econimic Zone (EEZ) for the continental shelf it sits on.

EEZ:

Under the United Nations Convention on Law of the Sea (UNCLOS), the exclusive economic zone or EEZ is covered by Articles 56, 58 and 59. The EEZ is defined as that portion of the seas and oceans extending up to 200 nautical miles in which coastal States have the right to explore and exploit natural resources as well as to exercise jurisdiction over marine science research and environmental protection.
http://www.eoearth.org/article/Exclusive_economic_zone_(EEZ)


The Treaty for Maritime Jurisdiction to Venezuela:

December 1978 Maritime Boundaries:  Aruba, Curacao, Bonaire, Saba/Aves Island:  Maritime boundaries agreement with Venezuela EIF
 
Article 1

1.  The maritime delimitations lines set out in this Treaty constitute the boundaries between the Contracting Parties in respect to their territorial waters, continental shelves, exclusive economic zones and all other maritime or submarine areas that have been or may be established by the Parties in accordance with international law.

 
The maritime boundary lines between Venezuela and the Netherlands Antilles are as follows:

1. SECTOR A.  Between the west of Aruba and Venezuelan territory
1.1.  From point No. 3, latitude 12° 21' 00" N and longitude 70° 25' 00" W, the meridian 70° 25' 00" W to point No.2, latitude 12° 49' 00" N and longitude 70° 25' 00" W.
1.2.  From said point No. 2, an arc of maximum circumference to point No. 1, latitude 15° 24' 48" N and longitude 69° 34' 38" W, or that point on said maximum circumference that represents the boundary with third nations.

2.  SECTOR B.  Between the Leeward Islands of the Netherlands Antilles (Aruba, Bonaire, Curacao) and the north coast of Venezuela.
2.1.  From Point No.3, latitude 12° 21' 00" N and longitude 70° 25' 00" W, parallel 12° 21' 00" N to point No. 4, latitude 21° 21' 00" N and longitude 70° 09' 51" W.
2.2.  From said point No.4, an arc of maximum circumference to point No. 5, latitude 12° 21' 54" N and longitude 70° 08' 25" W.
2.3.  From said point No. 5, an arc or maximum circumference to point No. 6, latitude 12° 15' 46" N and longitude 69° 44' 21" W.
2.4.  From said point No. 6, an arc of maximum circumference to point No. 7, latitude 11° 52' 45" N and longitude 69° 04' 45" W.
2.5.  From said point No. 7, an arc of maximum circumference to point No. 8, latitude 11° 45' 30" N and longitude 68° 57' 15" W.
2.6.  From said point No. 8, an arc of maximum circumference to point No.9, latitude 11° 44' 30" N and longitude 68° 49' 45" W.
2.7.  From said point No. 9, an arc of maximum circumference to point No.10, latitude 11° 40' 00" N and longitude 68° 36' 00" W.
2.8.  From said point No. 10, parallel 11° 40' 00" N to point No. 11, latitude 11° 40' 00" N and longitude 67° 59' 23" W.

biotech.law.lsu.edu/blaw/... /corres/ 20051m_040201/netherlandsfinal.doc

Here are the only maritime claims Aruba has (and Curacao and Bonaire):

Aruba territorial sea: 12 nm
Bonaire - None
Curacao - None

And here are Venezuela's maritime claims:

Venezuela - territorial sea: 12 nm
contiguous zone: 15 nm
exclusive economic zone: 200 nm
continental shelf: 200-m depth or to the depth of exploitation

http://www.bartleby.com/151/fields/11.html
-------------


So.  Venezuela controls ALL the maritime activities - and has all the rights to - surrounding not only Aruba, but also Bonaire and Curacao.

Kyle wrote on June 13 2008:

He's (John Silvetti) seriously making plans to open an Aruba office so he can conduct business easier in S. America and that would allow him to do that.

LEAK said:  Jug knew the Persistence's main purpose was oil related.

==================

Here's where it could get convoluted, but ponder this obvious, right in front of our face theory:

Remember the last minute boat change to the Persistence?

What if................Silvetti was awarded a survey/mapping contract by ??? for Venezuela, to map that area for planned future drilling?

Change of plans - no more Apache, Persistence will go, because they are being paid to go anyway.

Family is made aware of the change, and the reasons behind it.  (LEAK said that Jug knew the Persistence's main purpose was oil related.)

Fast forward to arrival in Aruba.............. Tim Miller shows up with Dateline - known or unknown to Silvetti beforehand, it would put a black mark on him and Schaefer in the public eye to have Dateline filming their mapping/surveying of that area - considering they had all pleaded for donations to Search for Natalee.

First steps - before Miller/Dateline are aboard - topography mapping.

Second step - side scan sonar, solely for the benefit of TES and Dateline.

WHOA!!!  They found something! Dammit!  It's what they were looking for!!!

Miller/Dateline are removed by Silvetti because "Tim wasn't necessary any more, and was a liabiliy".

It was only Kyle's assumption that Tim was a liability because he was calling the family about the cage.

How about...................

Liability - Don't need a black mark in the public eye for when we move out to deeper waters to continue mapping/surveying the area now that we've already found Natalee.  Can't possibly have TES and Dateline still on board filming that!

Not necessary any more - They had already found what Tim was there to find, therefore he was no longer necessary on the boat.

Continue "searching" out in deep waters ........................big to do about extending their initial timeframe of being there, meanwhile they are finishing their mapping/surveying.

Kyle's blog

Thurs 11-Jan 0030 hrs
The bathymetric survey of the new grid is completed. The search area now totals approximately 57 sq miles, compared to the original 22 sq miles.

go to link to see pics of area

Fri 25-Jan 0950 hrs
The Persistence leaves the dock this morning at 0730 hrs. Working during mainly daylight hours has been a welcome change for the crew and good for moral. The seas and winds have not been as severe lately. The last two days saw excellent progress

go to link to see pics of area

3D Perspective view of bathymetry showing water depth in feet. Black contour interval is 100ft

http://nholloway.blogspot.com/search?updated-min=2008-01-01T00%3A00%3A00-05%3A00&updated-max=2009-01-01T00%3A00%3A00-05%3A00&max-results=9


Fast forward to Jan 13 2009

Venezuela worries Aruba

Anton Foek THE WASHINGTON TIMES
Tuesday, January 13, 2009
ORANJESTAD, Aruba

On a clear day, one can easily see Venezuela from the southern part of this tiny Dutch Caribbean island - and its flaming towers drilling for oil and gas.

Russia and Venezuela recently began a joint drilling project in the waters bordering Aruba. The government of Venezuelan President Hugo Chavez claims 28 fields holding an estimated 27 trillion cubic meters of natural gas.

A Russian consortium that includes the state-owned Gazprom is exploring five fields. One of them - Cardon 3 - is less than 14 miles away from Aruba.
-------------


Maneuvering from April 2007/Jan 2008

BNamericas     
Friday, April 27, 2007 


US oil major Chevron has finished shooting 530 sq km of 3D seismic data on the Cardon 3 offshore block in western Venezuela.
Chevron is working with Canadian oil and gas independent PetroFalcon (TSX: PFC) and soon will start a drilling program on Cardon 3, Chevron E&P Latin America head Ali Moshiri told BNamericas.

"Now we are going through the interpretation phase to see if we can find a good prospect and after that we go ahead and begin development," he said.
 
Operators will drill one well as part of the development phase this year, Moshiri said.
Chevron holds a 70% interest in Cardon 3 and PetroFalcon the balance.

Chevron won Cardon 3 in 2005 as part of the Rafael Urdaneta project with a US$5.6mn bid.
http://images.rigzone.com/news/article.asp?a_id=44439

Bump

[2NJSons_Mom]

SusieQ posted this on the News of the Day thread.  I thought it was interesting and brought it here.  Thanks to SusieQ.

http://www.caribbeannetnews.com/venezuela/venezuela.php?news_id=17261&start=0&category_id=12

Japan may end $1.5 billion Venezuela loan plans after seizures

 
Published on Tuesday, June 23, 2009

By Steven Bodzin and Shigeru Sato

CARACAS, Venezuela (Bloomberg) -- Japan may cancel a planned $1.5 billion loan for Venezuela’s El Palito and Puerto La Cruz oil refineries after the South American nation seized Japanese company assets, said a person familiar with the situation.

The Japan Bank for International Cooperation, or JBIC, is reviewing loans for the upgrades after Venezuela took over Japanese iron and chemicals assets and fell behind on payments to oil-service contractors, according to the person, who declined to be identified because the review isn’t public. The refineries have a combined 327,000 barrels-a-day of capacity.

Venezuelan President Hugo Chavez is risking as much as $33.5 billion in Japanese investment as he takes over plants owned by companies such as Tokyo-based Mitsubishi Corp. Petroleos de Venezuela SA, the state-owned oil company, is also behind on payments to contractors including Japan’s Toyo Engineering Corp., according to the person.

“If that money were to dry out they’d be in a serious pinch,” said Roger Tissot, a consultant with Gas Energy Latin America in Vernon, British Columbia. “It doesn’t matter if you’re from China, Japan, Saudi Arabia or Wall Street, you want your money back and a little bit of return.”

Nippon Export and Investment Insurance, or Nexi, is also considering ending coverage for projects in Venezuela, the person said. The agency insures most Japanese holdings in Venezuela. The company has been holding internal meetings to determine its insurance coverage policy for Japanese investments in Venezuela, Kyoichi Suzuki, the head of the agency’s country risk analysis group, said by phone June 19.

Rafael Ramirez, Venezuela’s oil and energy minister and president of PDVSA, as the state oil company is known, didn’t immediately respond to a request for comment sent to his communications office. Satoshi Matsui, director general of Toyo in Venezuela, declined to comment on PDVSA payments in an e-mailed response to questions.

“We have grave concerns about Venezuela’s nationalization of the industries and need to continue internal discussions before determining our clear future policy,” Suzuki said.

Planned Japanese investments in Venezuela include $10 billion in liquefied natural gas projects, $8 billion in petrochemicals and $1.5 billion for the refineries, Chavez said while visiting Japanese Prime Minister Taro Aso in April.

Japanese companies could lose their appetite for investing in the South American country without Nexi coverage because they would fully be exposed to any investment risks, said Hidetoshi Shioda, a senior energy analyst at Mizuho Securities Co. in Tokyo.

JBIC, through a spokesperson who wouldn’t be named because of company policy, declined to comment on any review of the loan because negotiations are still ongoing. Venezuela’s Foreign Ministry didn’t immediately respond to a call and e-mailed questions from Bloomberg News seeking comment.

Mitsubishi, Mitsui & Co. and Itochu Corp. are among the partners designing two liquefied natural gas plants where Ramirez said Japanese investment may reach $10 billion.

In 2007, JBIC led a group of banks including Mitsui and Marubeni Corp. that loaned PDVSA $3.5 billion to be paid in cash, crude oil or petroleum products over 15 years, according to PDVSA’s annual report.

Venezuela has nationalized two industries with Japanese investment this year. Chavez took over the hot briquetted iron industry May 22, including Complejo Siderurgico de Guayana CA, or Comsigua, where shareholders include Kobe, Japan-based Kobe Steel Ltd. and Tokyo-based Marubeni Corp.

The Latin American nation’s legislature passed a law June 16 to take over primary and intermediate chemicals plants, such as the Metor methanol plant where Mitsubishi Gas Chemical Co. and Mitsubishi, both of Tokyo, share a majority stake.

PDVSA is at least $5 billion behind on payments to contractors, with several complaining that they have received only token payments since August.
 
 
 
 

[hotping]

Thanks SuzieQ and 2NJ! 

[texasmom]

This may not be important, but wanted to put it out here just in case! 

http://www.rnw.nl/english/article/press-review-wednesday-24-june-2009

Huge natural gas reserves in the Netherlands

De Volkskrant has an item on EBN, the government body which is responsible for the exploitation of natural gas in the Netherlands. In its report Focus on Dutch Gas, EBN writes that in addition to the natural gas field near Slochteren, there is at least another 500 trillion cubic metres of natural gas under the ground. New technologies are expected to make exploitation of these reserves commercially viable in the coming decades.

EBN’s Commercial Director Joost Haenen says: “Politicians often act like our gas reserves will be exhausted in 15 years, but this is not true, in particular when you take into account the gas that is more difficult to exploit.”

In the past, it was too expensive to extract the gas trapped in low-porosity layers of coal or rock. However, EBN is looking to the United States, where recent improvements in extraction equipment has led to a sizeable reduction in costs. EBN says the cabinet should follow the example of the US government and scrap taxation on the exploitation of these difficult gas reserves to support profitability.

According to Mr Haenen, “Even if you can only extract one percent of those 500 trillion cubic metres, you should do it. The Dutch state would make less on the gas itself, but would benefit via company tax and the ensuing economic activity. The Netherlands has built up extensive gas-exploitation know-how. In this way, you can sustain it”.

[Keepthefaith]

Superior Offshore International Inc., a oilfield-service provider, will hold three hearings this month to sell diving support vessels and equipment.

The first hearing will be June 9 for the sale of a 12- person, 300-meter saturation diving system. Bids are due June 4. Global Industries Offshore LLC is under contract to buy the diving system for $6.75 million.

The second will occur June 23 on Superior's motion to sell two mooring diving support vessels for $4 million to Divecon Services Inc. The vessels are certified for use only in the Gulf of Mexico.

The third and last hearing will be June 30 on the request to sell a 265-foot saturation diving vessel for $47.5 million to Celebrity Maritime Co. The vessel is certified for use anywhere in the world.

Superior filed under Chapter 11 on April 24. The most recently filed financial statements listed assets at Sept. 30 of $300 million and total liabilities of $141 million. The petition separately said the assets and debt were both between $10 million and $50 million.

Superior was being sued for an initial public offering made last year.

The case is In re Superior Offshore International Inc., 08-32590, U.S. Bankruptcy Court, Southern District of Texas (Houston).

[hotping]

Hey KTF

Looks like Celebrity Martime co. is within this group

:::::::::::::::::::::::::::::The Group::::::::::::::::::::::::::::::
 Pacific Coast Oil Group
   trades commodities such as Crude oil and refined products. PCO focuses on volume trading of crude oil ...read more
Celebrity Martime Co
 specializing in the shipping side of the house. Celebrity both purchases and charters vessels when needed for our various projects...read more
Caterina De Medici'
 is the Africa section of Caterina de' Medici Sas, Florence Italy. It's an brokerage arm of Pacific Coast oil Group, Caterina handles Oil trading in Italy and Europe, ...read more
BXO Energy Services
 was incorporated in Nigeria to handle the Oil trade within Nigeria and Africa region....read more


http://www.geocities.com/pipelineenergy/
 

[hotping]

 

alatar...@gmail.com    View profile   
  More options Feb 4, 12:10 pm 

From: alatar...@gmail.com
Date: Wed, 4 Feb 2009 09:10:20 -0800 (PST)
Local: Wed, Feb 4 2009 12:10 pm
Subject: stay away from the DEEP(Q)
Reply to author | Forward | Print | Individual message | Report this message | Find messages by this author
I lost a lot of money on this one. It's my own fault for taking
someone else's recommendation, but anyway.... This company has taken
care of it's senior officers as they left the shareholders with
worthless shares in a company racked by debt and tax problems. It was
a fantastic company to own before senior leadership took jobs that the
compaay couldn't perform. For myself, and a lot of other people, are
involved in some sort of class action suit against deep. There are
several, trying to squeeze out a few last pennies before the end. My
message to the management: Take your dirty money and go live in a
foreign country because if I see you living it up in Galveston you're
going to wish you had never heard of sub-sea construction.

http://finance.google.com/group/google.finance.708248/browse_thread/thread/cbd9ce2d8774ac19#

[hotping]

 

Suoerior Offshore International   
nerd....@gmail.com    View profile   
  (1 user)  More options Jan 18 2008, 9:36 am 

From: nerd....@gmail.com
Date: Fri, 18 Jan 2008 06:36:56 -0800 (PST)
Local: Fri, Jan 18 2008 9:36 am
Subject: Re: Is management that bad?
Reply to author | Forward | Print | Individual message | Report this message | Find messages by this author
Spoke to a guy who works at this company, he says:
- despite positive earnings, they don't have much work at the moment
- management are not exactly thrift, spending at least $3000 a night
on hotels and flying only business class at least once a week.
- the guys running the place apparently managed to put another company
doing the identical thing into liquidation in 2005

http://finance.google.com/group/google.finance.708248/browse_thread/thread/05b86db57a7f749f#

Maybe thats why it has dropped like rock.

[hotping]

Superior Offshore International Inc. v. Bristow Group Inc. et al
EasyEdit
(What's this?) What is the EasyEdit button? This website gets better when people like you add to it. Just click the EasyEdit button to start. (help)
Last update: No updates (content history | content tools) (help) Keyword tags: None
 
Plaintiff: Superior Offshore International Inc.
Defendant: Bristow Group Inc., Era Helicopters LLC, SEACOR Holdings Inc., Era Group Inc., Era Aviation Inc. and PHI Inc.
 
Case Number: 1:2009cv00438
Filed: June 12, 2009
 
Court: Delaware District Court
Office: Wilmington Office [ Court Info ]
County: New Castle
Presiding Judge: Unassigned Judge
 
Nature of Suit: Other Statutes - Antitrust
Cause: 15:1 Antitrust Litigation
Jurisdiction: Federal Question
Jury Demanded By: Plaintiff

http://dockets.justia.com/docket/court-dedce/case_no-1:2009cv00438/case_id-42467/

[hotping]

Superior Offshore International Inc. v. Bristow Group Inc. et al
EasyEdit
(What's this?) What is the EasyEdit button? This website gets better when people like you add to it. Just click the EasyEdit button to start. (help)
Last update: No updates (content history | content tools) (help) Keyword tags: None
 
Plaintiff: Superior Offshore International Inc.
Defendant: Bristow Group Inc., Era Helicopters LLC, SEACOR Holdings Inc., Era Group Inc., Era Aviation Inc. and PHI Inc.
 
Case Number: 1:2009cv00438
Filed: June 12, 2009
 
Court: Delaware District Court
Office: Wilmington Office [ Court Info ]
County: New Castle
Presiding Judge: Unassigned Judge
 
Nature of Suit: Other Statutes - Antitrust
Cause: 15:1 Antitrust Litigation
Jurisdiction: Federal Question
Jury Demanded By: Plaintiff

http://dockets.justia.com/docket/court-dedce/case_no-1:2009cv00438/case_id-42467/

Superior Alleges Prices On Flights To Oil Rigs Fixed
Law360, New York (June 18, 2009) -- Bankrupt undersea oil services company Superior Offshore International Inc. has launched a proposed class action accusing some of the largest providers of offshore helicopter services in the Gulf of Mexico of fixing prices for flights to oil rigs.

The lawsuit, filed June 12 in the U.S. District Court for the District of Delaware, claims the companies acted as part of a conspiracy between 2001 and 2005 to stabilize...


http://www.law360.com/registrations/create_login?article_id=107157&success_location=http%3A%2F%2Fwww.law360.com%2Farticles%2F107157

[hotping]

http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_S/forumview?bn=51422

 

[hotping]

UNITED STATES BANKRUPTCY COURT
Southern District of Texas
The Honorable Wesley W. Steen
HEARINGS CALENDAR

6/29/2009

06/29/2009 11:00 08-32590-11 1612 Superior Offshore International, Inc.
Official Committee of Unsecured Creditors Objection to Claim - Ernest H. Wise - #29
06/29/2009 11:00 08-32590-11 1613 Superior Offshore International, Inc.
Official Committee of Unsecured Creditors Objection to Claim - Bridget Wirick - 216
06/29/2009 11:00 08-32590-11 1633 Superior Offshore International, Inc.
Official Committee of Unsecured Creditors Objection to Claim - Robert Jamie Wise - #225

http://www.txs.uscourts.gov/schedules/A580mon2ceo.htm

[hotping]

http://seekingalpha.com/article/54414-superior-offshore-international-q3-2007-earnings-call-transcript

[hotping]

http://www.secinfo.com/d14sr8.uPcf.htm

[hotping]

http://www.upi.com/finance/?GUID=4849474&Page=MediaViewer&Ticker=DEEP

[hotping]

INTERVIEW-Tidewater looking at Superior Offshore assets -CEO
Wed Apr 9, 2008 1:50am IST 
NEW ORLEANS, April 8 (Reuters) - The chief executive officer of Tidewater Inc (TDW.N: Quote, Profile, Research) on Tuesday said his company is evaluating assets from Superior Offshore International Inc DEEP.O, which last week warned of limited liquidity.
"We've had some people bring Superior to our attention," Tidewater CEO Dean Taylor told Reuters. "It's something we are evaluating."

Taylor said the process was in the very early stages for Tidewater, which is the world's largest provider of offshore supply boats to the energy industry.

On April 1, Superior Offshore, which provides subsea construction and commercial diving services, said it hired the investment back of Tudor, Pickering, Holt & Co. to explore strategic alternatives, including a possible sale.


http://in.reuters.com/article/oilRpt/idINN0838628420080408

[hotping]

Thomas B. Coleman
 
Director
Overseas Shipholding Group, Incorporated
New York ,  NY
Sector: SERVICES  /  Shipping
 66 Years Old
Thomas B. Coleman, Chief Executive Officer of International-Matex Tank Terminals, deep water bulk liquid terminals and logistics. Mr. Coleman is a director of Superior Offshore International, Inc

http://people.forbes.com/profile/thomas-b-coleman/61081

[hotping]

Superior Offshore International Inc. v. Bristow Group Inc. et al
EasyEdit
(What's this?) What is the EasyEdit button? This website gets better when people like you add to it. Just click the EasyEdit button to start. (help)
Last update: No updates (content history | content tools) (help) Keyword tags: None
 
Plaintiff: Superior Offshore International Inc.
Defendant: Bristow Group Inc., Era Helicopters LLC, SEACOR Holdings Inc., Era Group Inc., Era Aviation Inc. and PHI Inc.
 
Case Number: 1:2009cv00438
Filed: June 12, 2009
 
Court: Delaware District Court
Office: Wilmington Office [ Court Info ]
County: New Castle
Presiding Judge: Unassigned Judge
 
Nature of Suit: Other Statutes - Antitrust
Cause: 15:1 Antitrust Litigation
Jurisdiction: Federal Question
Jury Demanded By: Plaintiff

http://dockets.justia.com/docket/court-dedce/case_no-1:2009cv00438/case_id-42467/

Superior Alleges Prices On Flights To Oil Rigs Fixed
Law360, New York (June 18, 2009) -- Bankrupt undersea oil services company Superior Offshore International Inc. has launched a proposed class action accusing some of the largest providers of offshore helicopter services in the Gulf of Mexico of fixing prices for flights to oil rigs.

The lawsuit, filed June 12 in the U.S. District Court for the District of Delaware, claims the companies acted as part of a conspiracy between 2001 and 2005 to stabilize...


http://www.law360.com/registrations/create_login?article_id=107157&success_location=http%3A%2F%2Fwww.law360.com%2Farticles%2F107157

Posted on Thursday, 06.18.09           .OFFSHORE OIL
Petroleum-services firm sues helicopter-transport companies
A Fort Lauderdale company was one of three sued by a petroleum services provider, which claimed they conspired to jack up prices for transport to oil rigs.
BY PHIL MILFORD
Bloomberg News
Superior Offshore International, the petroleum-services provider that sought bankruptcy protection last year, sued three helicopter-transport companies, including one in South Florida, alleging they fixed prices for flights to oil rigs.

PHI of Lafayette, La.; Seacor Holdings of Fort Lauderdale, and Bristow Group of Houston acted to stifle competition in trips to the platforms, according to federal court papers filed June 12 in Wilmington, Del.

''This case arises from a conspiracy among the largest providers of offshore helicopter services in the Gulf of Mexico to fix, raise, maintain or stabilize'' their prices, plaintiff's lawyers said in an antitrust lawsuit.

The market for Gulf flights is ''several hundreds of millions of dollars per year,'' with 650 helicopters making as many as 7,500 trips a day to 7,000 oil and gas platforms, according to the complaint, which seeks unspecified damages and class-action, or group, status for customers from 2001 through 2005.

Richard Rovinelli, PHI's chief administrative officer, and Molly Hottinger, a Seacor spokeswoman, declined to comment on the lawsuit. Linda McNeill, a Bristow Group spokeswoman, didn't immediately return a call seeking comment.

''A new entrant would face a significant hurdle to break into the market in the face of existing contracts,'' Superior Offshore contends in its complaint. If the market was competitive, ``purchasers would naturally resist price increases by shopping around.''

The lawsuit alleges that aircraft charter prices were ''relatively stable'' until 2001, when the three companies agreed to raise prices, first, by 30 percent and, ultimately, by about 50 percent from the base price by the end of 2005.

Court papers show that Bristow's day-rate price in 2001 was about $5,000 and can now be more than $35,000 for a large helicopter.

Superior Offshore also contends in its lawsuit that the U.S. Department of Justice's Antitrust Division has an ''ongoing criminal grand jury investigation'' of the helicopter services industry in the Gulf of Mexico.

The lawsuit cites a March 2009 filing to the Securities and Exchange Commission by Bristow that the investigation could have ''adverse effects'' on the company. PHI said in a December filing with the SEC, according to the lawsuit, that the investigation ``could have a material adverse effect on our business, financial condition and results of operations.''

Laura Sweeney, a spokeswoman for the U.S. Justice Department's Antitrust Division, had no comment on the investigation.


http://www.miamiherald.com/103/story/1102693.html

[hotping]

The contract with Superior Offshore International Inc (SOII) for operations in Trinidad for the deployment of vessel Seamec III till July 2008 was prematurely ended on April 15, 2008. The total outstanding dues as on date of termination were Rs. 17.4 cr out of which the outstanding dues as on March 31, 2008 were Rs. 13.1 cr. As per information received on April 26, 2008 the Charterer (i.e. SOII) has filed a Voluntary Petition under United States Bankruptcy Court under Chapter 11 of US Law, which implies that the Charterer is not in a position to clear all outstanding dues and request court intervention for restructuring of their business. In view of the above, Seamec has provided for the outstanding balance as at March 31, 2008.

http://74.125.95.132/custom?q=cache:0NWnId8cwxgJ:www.hdfcsec.com/CMT/Upload/ArticleAttachments/SeamecQ108ResultsUpdate.pdf+superior+offshore+international&cd=153&hl=en&ct=clnk&gl=us&client=pub-8285741962818604

[2NJSons_Mom]

http://seekingalpha.com/article/54414-superior-offshore-international-q3-2007-earnings-call-transcript

Reading this now, knowing the outcome, the questions of the analysts were on target and the responses of Mermis and Burks were like 'I think I can dance'.   

Thanks, hotping.