what is icn's valuation?, page-17

Just another thought into the mixing bowl - and not downramping either.

The GSA is asset for ICN. BPT becomes shall we say not so "purposeful" in accelerating ATP 855P drilling.

The only notation I've found is ICN's Jan 21, 2013
"The joint venture will be drilling 5 wells in ATP 855P in 2013-2014 to meet the tenement commitment"

I think that's problemmatic to ICN needing 2Tcf 2P reserves by June, 2014. If I interpret correctly Shantou want that before construction of LNG plant to have some degree of certainty over supply.

Does BPT have a GSA with anyone to deliver their 60% share of the gas from ATP 855P?

Could BPT "muscle" in on ICN's GSA as a "co-supplier" of the 2P Reserves to make up any shortfall should it exist by the deadline? Whilst it deducts from what ICN could sell it would cement a very lucrative GSA.

Anyone got a more definitive statement issued regarding the ATP855P Tenement Plan?