update, page-23

My read of the situation is that Santos has not been able to make a rig available possibly due to mechanical problems or rig shortages or arrogance or whatever. Under the farmout agreement Santos is required to drill Stitch before the end of (April ?). Therefore if Santos won't drill anytime soon, ICN is faced with the decision to cancel the farmout agreement and find alternative farminees, which won't be hard, or wait for Santos to get its act together.
It is most frustrating for us investors because the quality of ICN's permits remains highly prospective but no near term action plan is emerging .
As I have said before , A detailed update on all assets is sorely needed.
Sandune, if you know the management you should pass this on to them. Alternatively we all should contact them via email and give them our opinions.
Occam