Subject: Re: Pabrai: Berkshire Oxy Investment
"They haven't drilled a well in two years, don't plan to drill or pay for drilling going forward. They sold their only drilling rig in February, sold their headquarters building, they have hardly any employees left, fired their CEO subsequent to year-end, and will let the production decline and collect the cash flows unless a third party comes in a pays to drill wells in exchange for an interest in those wells. Which is why I said what I said."

I stand corrected.